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Entrepreneurs lose confidence in Labour

Alistair Darling’s ‘poorly received’ first budget has led to dwindling support for Labour among entrepreneurs, new research has claimed. Almost 70% of organisations employing between five and 19 staff say they have felt worse off since the budget, compared to less than 50% of larger businesses, said research by entrepreneur think tank The Tenon Forum.

Waning trust in Alistair Darling has led to a swing in political beliefs - just 6% of small business owners said the Labour Party represents their best interests, compared to more than 60% who feel the Conserative Party understands their pressures.

However, Tenon said the figures indicate political apathy is on the decline. Less than a quarter of respondents said no political party understands entrepreneurs, compared to almost 60% in 2006.

Andrew Jupp, Tenon’s national head of tax, said: “Brown is confident that he can steer the country through the current rough waters, but with this research, entrepreneurs are sending a clear message that the chancellor needs to step up and prove he takes them seriously by cutting red tape and developing policies which help, rather than stifle, UK enterprise. Only time will tell if this will happen, or whether Cameron and Osborne will capitalise on the opportunity presented to them.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .