West Midlands SMEs sceptical about Government growth plans – survey

SOME 75% of West Midlands SMEs think that the Government is not helping businesses grow – the highest figure in the country – according to accountancy firm RSM Tenon.

Amongst other findings from the RSM Tenon Business Barometer – a quarterly survey carried out by You Gov of senior management in SME companies – the David Cameron-led coalition is also under fire for failing to help businesses access finance.

Some 61% of West Midlands SMEs think that there has been no improvement in their ability to raise money since the coalition took power in 2010.

At the same time, businesses are becoming more cautious about borrowing, with only 24% seeking to raise finance. 

Peter Whitehead, office managing partner at RSM Tenon in the West Midlands, said: “Uncertainty around the Government’s policies and also the Eurozone have affected business confidence, with falling investment and rising commodity prices adding more pressure.

“However it is not all doom and gloom, with one in five businesses saying they remained ‘very confident’ about hitting revenue targets this quarter. There are signs of recovery in the financial sector that should hopefully have a positive impact going forward.”