SMEs holding back on investment due to lack of clear Government plan, warns Azets boss
Small and medium-sized companies are holding back on investment due to a lack of clear economic policy, the boss of international accounting and advisory group Azets has claimed.
The firm’s UK CEO Peter Gallanagh has made the remarks after the latest Azets Barometer survey saw businesses cite uncertainty, geopolitical instability and trade tariffs as their top concerns for the next 12 months.
Mr Gallanagh said: “SMEs are asking for clarity from the government around tax policy and long-term economic plans.
“Without it, confidence to invest simply won’t return. Right now, SMEs are treating cash as insurance, not fuel for growth.
“We’re seeing caution override ambition – and that’s holding the UK economy back.”
Mr Gallanagh added: “We need to fill entrepreneurs and business leaders with confidence that investments in growth areas will not be undermined by sudden policy shifts or unexpected regulatory changes down the line.
“SMEs account for 60 per cent of the UK workforce. Backing them isn’t a gamble – it’s a guaranteed route to economic growth.”