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UK’s entrepreneurs alienated by major political parties

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Major political parties are failing to win the hearts and minds of the UK’s leading entrepreneurs according to research released this week by the Tenon Forum. More than half (58 per cent) of the entrepreneurs surveyed said that no party best understood them - starkly illustrating serious political malaise within the private sector.

From those who did proclaim a political preference, the Tories were a long way ahead. Two thirds selected the Conservatives (67 per cent) compared to only one in five for Labour (19 per cent) and one in seven for the Liberal Democrats (14 per cent). Although this shows a clear lead for the Tories amongst those who stated their preference, it amounts to only 28 per cent of the whole UK business electorate.

Richard Kennett, Chairman of the Tenon Forum, said:

"To win the hearts of business leaders, the parties need to vow that they will cut the mass of red tape currently bogging business down and offer significant tax exemptions so that the businesses of tomorrow can retain momentum and keep the nation’s economy healthy."

The bi-annual research, conducted by GfK NOP on Tenon’s behalf, questioned managing directors, financial directors and senior directors of 600 small and medium-sized entrepreneurial businesses for analysis by the Tenon Forum, an independent think-tank of entrepreneurs.

The research showed that business leaders in London and the South East are the most Toryphile in the UK. 36 per cent around the capital believe that the Tories best understand issues faced by growing businesses.

Richard continued,

"It is a good sign for the Tories that their approval rating is higher in London. Political trends often start there and then permeate throughout the UK. However entrepreneurs need to be convinced that David Cameron understands the problems faced by growing businesses under the current Labour regime and they need to see a promise of action to make things easier."

Posted November 9, 2006