The vast majority of small businesses questioned in a recent study don’t believe that government initiatives have been helpful to them.
In new research by Shelley Stock Hutter, 90% of respondents said initiatives such as the Seed Enterprise Investment Scheme and the National Insurance holiday have had no positive effect on their business.
Furthermore, many small business owners indicated that they had little knowledge of these government schemes. Just 24% said they understood the benefits of the Enterprise Finance Guarantee Scheme and just over a tenth said they had heard of the National Insurance holiday.
Bobby Lane, partner at Shelley Stock Hutter, believes the lack of knowledge about government schemes is unsurprising. He said: “There have been a number of initiatives introduced for small businesses, but little supporting information or an education campaign to follow this up. As a result many small businesses are at sea as to how their business will gain and what steps have to be taken to benefit from the schemes”.