Government must do more to tackle business growth barriers, says FSB

Government must do more to tackle business growth barriers, says FSB

More must be done to combat obstacles that are preventing businesses from growing, the Federation of Small Businesses (FSB) has stated.

The FSB’s declaration comes following the recent publication of the Government’s Small Business Survey 2015, which is based on the opinions of over 15,000 small and medium-sized (SME) businesses, providing an insight into the UK’s small business landscape.

Data contained within the survey revealed that 24% of SME employers had more employees in 2015 than during 2014.

Additionally, the data disclosed that 50% of SME employers had undertaken innovation in the last three years, ranging from the introduction of new services or products, the implementation of improvements to existing services or products and the significant improvement of processes.

Mike Cherry, National Chairman for the FSB, said: ‘There are many positives to be taken from the findings, including high levels of innovation and turnover among small and medium-sized firms.

‘Yet the survey highlights a number of all-too-familiar barriers that are acting as a drag on business growth. Key obstacles include regulation, taxation, late payment and finding staff with the right skills – issues that come up time and time again in our own surveys, and must be prioritised by the Government if smaller firms are to achieve their full economic potential.’