Could this be the SME election? Small businesses employ 16million – over a third of the electorate

SME experts – IW Capital and the UKBAA – discuss the importance of SME success to the next Government

Today will see the three main party leaders set out their plans to secure the support of the UK’s business leaders at the CBI conference. Boris Johnson is set to make the case for getting Brexit done, while Jo Swinson is to claim that the Lib Dems are the “natural party of business”. Labour is to focus on apprenticeships and training for the business community.

When setting out their stall in business policy, one area that is set to have a huge impact is the support promised for small and medium enterprises across the UK. The SME community employs 16.6million of the roughly 45million eligible voters in the UK and contributes £2.2trillion (52%) to the economy. If the next Government can make it clear that they are the party to help this sector of business to grow and thrive they could see significant support from one of the biggest sections of voters to exist in the UK.

Luke Davis – CEO of SME investment house IW Capital says:

“The importance of the SME sector is hard to overstate, and in the context of the upcoming election will be hugely important to the future economy. With over a third of the electorate employed by small businesses this could really be a swing vote of society – if this section of the workforce feels more confident in their job security and business growth with one party, it will almost undoubtedly affect voting decisions.

“For SMEs to feel confident in their capacity to grow, employ more people and expand they need to trust that the incoming Government is going to look after them and deliver security. The range of innovative and agile firms in the space currently is reflective of the entrepreneurial spirit of the UK which if fostered correctly could kick-start the wider economy into a period of growth.”

Jenny Tooth, CEO of the UK Business Angels Association, has commented:

“Not only is it the employees of SMEs that are keeping a keen eye on this election, but also the investors involved within the SME arena. With Britain’s impending exit from the European Union, the loss of the Jeremie fund and Horizon 2020 are bound to leave regional SMEs proactively seeking private investment more fervently. However, the mindset of investors could change post-Brexit. Investors will be looking for greater longevity when assessing the potential of a business, and will now look to how scalable businesses are in terms of their international reach. The forthcoming election and the pledges that the parties sell to businesses needs to reassure investors that the environment they delve into is a sustainable one.”

0 Tags