Entrepreneurs hit out at Government

More than two thirds of North West entrepreneurs believe that the government has failed them in struggling economic climate, according to research by accountancy firm Tenon.

They say that the 50% income tax rate has meant 32% of entrepreneurs have been discouraged from growing their business.

When asked which group would be most important in leading the UK out of the current financial crisis, just 13% in the North West chose the current government, compared to one quarter who said entrepreneurs.

The Tenon Entrepreneur Forum, which questioned over 300 business owners throughout the UK at the end of July , also found there was an overwhelming belief that the current government had failed to do enough to help small businesses in this economic climate.

A whopping 69% in the North West region felt the Government has failed them compared to just 10% who believed the support for SMEs has been forthcoming.

Peter Donnelly, managing director for Tenon in Bolton and Rochdale, said: "This Government has failed to provide a safety net for Britain's entrepreneurs. It's pro-business credentials have been exposed as a total fantasy thanks to a raft of ineffective and ill-conceived initiatives that have provided precious little support for SMEs.

"Rather than support those that could stimulate economic recovery, the imposition of a 50% tax rate will act as a ceiling on wealth and leaves no incentives for owner-managers to grow their businesses. Entrepreneurs feel justifiably disillusioned and abandoned, confident only that the Government is incapable of leading the way out of the recession."