Small businesses across Greater Manchester call on new Government to cut taxes
Half of UK's small business and start-up founders are concerned that their venture will not survive the next 12 months
There are fresh calls for the new Government to cut taxes, as small businesses across Greater Manchester fear for the next 12 months.
New research has revealed that half of UK founders are concerned that their venture will not survive the next 12 months, versus only 11% having the same concerns last year.
The statistics from the Founder Barometer report (Virgin StartUp) also show 33% would like to see business rates scrapped, 32% would like more support for regions outside London, and 26% would like a cut in corporation tax.
Small and medium sized enterprises (SMEs) make up 99% of businesses in the UK, supporting 27 million jobs across the country and collectively account for £4.5 trillion in annual turnover.
Matthew Ridd, from Altrincham is the Co-Founder of Wuva, a rental marketplace for bikes and prams, he said: "You've got so much uncertainty which comes from all the global problems and challenges, that we are facing...
"Being hit by the tax on top is mental sometimes, you forget how little you're actually left up with.
"I understand where does money come from and you've got to take from somewhere to give to another, but I do think, especially for small business owners, you are trying your hardest to get something off the ground... Fundamentally it is hard to get the customers.
"It is stressful, it is difficult because you don't know what is going to happen next.
"People aren't willing to spend as much disposable income as traditionally they would've done over the last few years because they need to save...
"Energy is through the roof and on the other side of that, your energy and utilities for businesses have also sky rocketed."
The Government has been approached for a comment.