10-03-2008
Entrepreneurs 'lack faith' in Budget
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Small business owners are not too positive about how the Budget will affect their financial situation.
This is according to a survey by Bank of Scotland Business Banking, which revealed 93 per cent of entrepreneurs believe the Budget will not hold good news for their business finance.
Chancellor Alistair Darling is set to deliver his first budget speech on Wednesday.
Two-thirds of small business owners expect the government to target their enterprises as a means of increasing its tax income.
The existing tax regime has also been classed as "unfair" by nearly seven in ten of those entrepreneurs polled.
Ivan Matviak of the Bank of Scotland said small business owners have "little faith" that the Budget will support and promote enterprise.
He added that it is unsurprising entrepreneurs feel "hard done by" when it comes to taxes, as they have been on the receiving end of incremental tax increases during 2007.
"If small businesses are to remain the lifeblood of a growing economy, then it's up to the government to deliver some good news and provide a boost to Britain's small business owners," Mr Matviak added.
Meanwhile, the Forum of Private Businesses has urged Mr Darling to "radically rethink" his ideas.
Matt Goodman, policy representative at the organisation, said he should reconsider in particular tax plans, "which specifically disadvantage smaller businesses".