A new survey has revealed the voting power of small businesses (SME) should not be "underestimated" as political parties release their manifesto’s ahead of the general election.
The research, conducted by business insurance providers Simply Business, showed SME owners, such as pubs, represented 4.4m votes, and four in five would consider voting for a different party on polling day (Thursday 4 July) if more importance was placed on the needs of SMEs.
Of the 1,750 SME owners and self-employed people surveyed, almost half (47%) felt a change in Government would be beneficial and make them feel more hopeful about the future of their business.
Conversely, more than a third (37%) of those surveyed said it didn’t matter if there was a change in Government.
Tackling challenges
Simply Business COO Bea Montoya said: “Small businesses are the beating heart of our nation’s economy and communities.
“Our research shows just how crucial they will be to July’s election result. Their message is clear: put small businesses at the centre of our economic plan by tackling challenges head-on.
“In doing so, candidates will be appealing not just to our country’s SME owners, but to an extended pool of voters – the families of small business owners and those who rely on SMEs for their employment.”
Though 30% of respondents did not feel either the Conservative or Labour parties were the best option for self-employed Brits.
Economic stability
Despite this, the two parties came out on top overall, with 38% having said Labour represented the best interests for SMEs, followed by the Conservatives at 22%.
Reform UK, Liberal Democrats and the Green Party received 11%, 7% and 6% of the vote respectively.
Montoya added: “From Covid closures, to spiralling costs – few have been hit harder than the self-employed in recent years and, while their continued resilience is inspiring, there is a worry among many that the current conditions are frankly unsustainable.
“The UK’s 5.5m small businesses are an essential part of our collective economic stability; their importance – and the power of their votes – cannot be underestimated.”
