Research out today commissioned by invoice and asset-based financier, Venture Finance PLC, reveals that worryingly few small- and medium-sized enterprises (SMEs) fully understand the implications of the Budget on their business.
The survey of small business decision-makers found that 77 per cent believe the government does not clearly communicate the implications of the Chancellor's Budget. This is disturbing news for the government and the Chancellor as he prepares his 2004 annual Budget on 17 March.
Commenting on the research, Steve Websdale, director at Venture said: "Last year's Budget was a mixed bag for UK SMEs. Lower corporation tax and capital gains tax offered some benefit, but the increase in National Insurance, which came into effect last April, has certainly had a negative impact on small businesses.
