A worrying 35 per cent of small business owners plan to shut down if the situation for them doesn’t improve.
That is according to a poll of 255 small business owners by energy comparison site SwitchmyBusiness.com, which has revealed the key pressures and needs of the sector ahead of the General Election.
Many showed that on top of financial worries, their health suffers with convenience junk food (15 per cent), stress (18 per cent) and lack of sleep (20 per cent).
The findings reveal the true state of small businesses in the UK, which Prime Minister David Cameron has said are the ‘lifeblood’ of the economic recovery.
Cameron puts the value of home-based businesses to the economy at £300 billion alone, with small businesses (1-50 employees) adding in excess of £57 billion in tax revenue.
As a result of the small business findings, SwitchMyBusiness.com has created an election manifesto with key areas for the next government to focus on in the run up to election 2015.
Ivan McKeever, CEO SwitchMyBusiness.com, said: “The picture from UK small business owners is clear; they want change from the government and they want more help.
“Small businesses are the forgotten younger brother of the big corporates and we want them to have a voice and get it heard. This is why we’ve put together the small business manifesto so as we head into election ‘promise’ season, the political parties will stand up and take notice.”
The demands include a call for harsher penalties for customers who do not pay on time, a loan scheme for entrepreneurs, as well as access to affordable superfast broadband, more help with utility bills and more support in dealing with red tape.