Member Article

Tory policies clear winner for NW mid-sized businesses

• More than two thirds in favour of Tory policies to boost business growth
• 65% back Conservatives to secure the best Brexit deal
• Eight out of ten mid-sized firms expect growth in the year ahead

Conservative policies receive overwhelming support from mid-sized businesses as more than two thirds back the Tories to best help them achieve their growth ambitions, according to new research published today by business and accountancy firm BDO LLP.

BDO’s research, which surveyed leaders of high-growth, medium-sized businesses in the region, revealed that 66% of firms believe Conservative policies would best help them achieve their growth ambitions in the next year.

Labour policies were supported by just 14% of businesses, exactly the same as the 14% who favoured the the Liberal Democrats.

Similar views are being voiced when asked which political party would secure the best deal for business as the UK leaves the European Union. 65% of British mid-sized firms backed Conservative, representing a huge lead over the Liberal Democrats and Labour.

Despite the prolific change to the economic and political landscape in the last year, the region’s mid-sized firms remain stable and assured.

One quarter (25%) of those surveyed say their opinion as to which political party would best help their business grow has changed since the 2015 general election. In addition, an overwhelming majority (71%) are expecting positive growth for the financial year ahead.

Whichever party is elected on 8 June, these medium-sized businesses want to see more action from policymakers to boost growth in the year ahead.

Over a third (35%) of mid-sized firms want to see simplification of the UK tax structure, 22% call for improved access to skills, and 21% want to see investment in physical infrastructure to ensure a balanced, sustainable post-Brexit economy for these businesses to continue to thrive.

Ed Dwan, head of BDO in the north west, said:

“Whatever the result, the forthcoming general election brings an opportunity to engage with the region’s high-growth businesses and draw on their natural energy, ambition and entrepreneurial spirit to help the north west succeed in a new, post-Brexit economy.

“What is clear now is that these businesses are strong and optimistic; but to continue to withstand tremors of a changing world and meet their high-growth targets, they need to be at the heart of policymakers’ plans and receive real government support.”

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