Politicians' promises fail to meet SMEs' needs | Blog | Foundation East

Politicians' promises fail to meet SMEs' needs

5th June 2017 By Katy Ford in Current Affairs

All three main parties praise UK entrepreneurs in their manifestos, but what are they pledging to provide and which party, if any, is listening to the Federation of Small Businesses (FSB) and the Responsible Finance sector? Here’s our guide …

The Federation for Small Businesses (FSB) launched its own General Election Manifesto 2017 ahead of the political parties. Their Manifesto, entitled Small Business, Big Ambition, has been used to lobby each party and each candidate standing for each party. They published it early in the hope of getting some of their proposed promises into some of the parties’ manifestos and launched it with a little bit of help from The Sun, who’s White Van Man drove it directly to Downing Street and Parliament. But were they successful? Were any of the main political parties listening? And did any address the crucial issue of access to finance?

Below (in the PDF) is an overview of the pledges made by the Conservative, Labour and Liberal Democrat parties plus the top 30 policy asks from the Federation for Small Businesses (FSB) for you to compare. It is disappointing that not every manifesto directly addresses the crucial issue of access to finance yet all indicate more regulation and costs for business. Rest assured that whatever the outcome of this week’s election, Foundation East and the wider Responsible Finance community will continue to campaign vigorously to ensure that financial inclusion gains a significant foothold on the new Government’s agenda.

Politicians promises fail to meet SMEs needs

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  • About the Author
    Katy Ford

    Katy Ford

    Katy’s knowledge of community finance is extensive, having worked for Foundation East since its inception in 2004. She is recognised locally as an influential business leader by the Suffolk 100 and nationally, as a founding member of AskIf, an online network of community-based lenders. Previous to moving across to community finance, Katy was the treasury manager for a large insurance company. She also has experience as a SME owner, having run a small hotel.