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Brits believe that SMEs are key to recovery

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It’s not just business leaders who know the value of the mid-market: 73 per cent of Brits believe we should boost the UK’s economy by making bank funds available to small and mid-sized businesses, according to a nationwide survey by Usurv.

In a vote of confidence for the UK’s business sector, 62 per cent of people said they trust small to mid-sized business owners more than big firms or politicians. The majority of people questioned are in favour of government plans to set up a state-backed small business bank, while only seven per cent favoured giving more money to big firms.

Some 72 per cent of respondents would also prefer to work for a small business rather than a big firm, citing greater job satisfaction and the ability to play a bigger role in the business as the chief reasons.

“Our poll seems to indicate that people are overwhelmingly in favour of small businesses, and are firmly behind government plans for a state bank to provide them with loans. The public trust small businesses and nearly three quarters want to work for them. It looks like we’ve moved from being a nation of shopkeepers to a nation of small businesses.” said Guy Potter, director and chief market research at Usurv.

Some of the questions asked in the survey are below. What would you have answered?

Who do you trust more?

  • Owners of small business of up to 50 employees (58 per cent);
  • Senior managers and directors of large well known businesses (seven per cent);
  • Senior managers and directors who work in the public sector, such as NHS, local government and civil service (six per cent);
  • Celebrities (three per cent);
  • Politicians (one per cent); and
  • Don’t know (25 per cent).

The government has said it will create a new state bank to make loans more accessible to small businesses. Do you think the economy would get a bigger boost if bank money was made more available to:

  • Small businesses of up to 50 people (73 per cent);
  • Larger businesses (7 per cent); and
  • Don’t know (20 per cent).

Who do you trust to get the economy going again? Small businesses or large businesses?

  • Small businesses (62 per cent);
  • Large businesses (17 per cent); and
  • Don’t know (21 per cent).

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