SMEs are in favour of the Conservatives’ overall majority, supporting the party’s pledge to cut red tape and review business rates.
Darren Fell, managing director of Crunch Accounting says, ‘We conducted a survey on the eve of the election showing that the majority of small business owners favoured a Conservative government, so it certainly seems the business community have made their voices heard.
But Fell says the Conservatives’ support for one-man-band businesses has been ‘less than stellar’.
‘Hopefully Cameron will give something back to those who helped re-elect him and introduce some meaningful support for freelancers and contractors,’ he adds.
Kirsty Wild, business development manager at Quartz Payroll praises David Cameron’s initiative to cut red tape by £10 billion during the next parliament, which will ‘help businesses with low head count to navigate bureaucratic processes’.
However, she adds, ‘The employment allowance, a levy on National Insurance contributions will remain however it’s unclear when, if ever this is extended to all domestic employers.’
Jerry Brand, serial entrepreneur and owner of Caternet says, ‘I would like to see a real commitment from the Tories to investing in entrepreneurs – something that is crucial for the growth of the UK economy.
‘I also want to hear that we are building a support structure for the hundreds of thousands of people who are made redundant by the globalisation of larger businesses. The mobilisation of those people, plus the millions who are out of work, this would not only reduce the welfare/benefits costs but would also fill the government’s tax coffers and create extra turnover for the UK economy.’
John Coldicutt, CMO of KashFlow says that one of the promises the Conservatives made during the 2010 election was to leave office having reduced the overall burden of regulation.
‘The Red Tape Challenge is a website designed to help businesses manage this as well as promote open discussion as to how regulation can be fulfilled in the most efficient way possible. Our new government should draw upon these experiences to progress this further,’ he says.
Nick Ayton, managing director at GenLife, feels strongly that the Conservative government needs to set a constitutional precedent and appoint an independent minister at cabinet level to represent the interests of those in, or planning for, retirement.
‘Having a minster that resides outside the political spectrum will give continuity and longevity over an issue that will be one of the greatest challenges facing the country over the coming decades. We would like to see such a minister sit in the House of Lords to ensure that there is continuity over the coming years and avoid the instability of further political upheaval,’ he adds.
The Liberal Democrat cull will have ‘far reaching consequences outside that of just party politics’. Ayton says.
‘The loss of key members of the coalition who have been instrumental in preparing and delivering sweeping pension reforms over the last year will slow the momentum for changes that will help solve the pension crisis.’