Small business fear more Eurozone woe most, FSB poll shows

Federation of Small Businesses

A survey of small business owners in Greater Manchester and North Cheshire has revealed most believe the biggest threat facing the UK economy is the Eurozone going deeper into recession.

In total 39% of business owners chose this option when the Federation of Small Businesses conducted a poll of its members in the region. In a close second, 31% believe no party winning an outright majority in the General Election is the biggest economic threat.

A further 18% saw geopolitical tensions, such as the Ukrainian crisis, as the biggest threat, while 11% selected ‘other’. Where respondents elaborated on ‘other’, concerns included skills shortages, the break-up of the EU, penalties by HMRC, and the strength of the pound. However, the most common ‘other’ was in relation to politics, and particular parties winning a majority in the general election.

Simon Edmondson, Regional Chairman for the FSB in Manchester & North Cheshire, said: “Perhaps not surprisingly, small business owners believe the biggest threat to the UK economy is the European Union going deeper in to recession. With the EU being our most important trading partner it’s easy to see why this spooks firms here.

“Clearly though, politics is also high on the agenda of many small business owners, and no doubt many are looking to the General Election in May with some trepidation. This hopefully signals that the business community will be voting in numbers, and so I would urge the political candidates standing to listen carefully to the voice of small businesses and understand the importance of the business vote.”

In the run up to the election the FSB has organised a number of business themed hustings around Greater Manchester where candidates running for office can go head to head in a public arena. Constituency events are planned in Stretford and Urmston, Hazel Grove, and Bolton West – last time won by Labour with just 92 votes in it.

Added Edmondson: “We’re extending the invitation to anyone with a vested interest in business to come along to these events to hear what their local candidates have to say. This is a chance also for them to ask their own question and find out where candidates are on certain local business issues.”