Intelligent SME.tech Issue 25 - Page 37

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SME leaders call on government to do more

Babble has revealed the results of its report and has found that 92 % of SME leaders are
calling for urgent support from the UK Government . Mark Parker , CEO of Babble , provides more detail on how the government can help businesses sleep well and dream big .
S COSTS AND inflation rise

A to record levels , small-andmedium-sized businesses across the UK are urgently calling for the British Government , and the cabinet to provide them with more support .

A poll of 250 British SME leaders reveals an incredible 92 % think the government must do more to support small-and-mediumsized businesses during this period of unprecedented difficulty .
The survey , commissioned by technology provider , Babble , identified the five biggest issues keeping SME leaders awake at night :
1 .
Rising inflation costs impacting profit
margins ( 58 %)
2 .
Retaining customers and clients ( 46 %)
3 .
Winning new business ( 39 %)
4 .
Impacts of Brexit on importing and
exporting ( 24 %)
5 .
Providing exceptional customer
service ( 22 %)
SME leaders in the north-west are particularly concerned with inflation pressures , with three-quarters ( 75 %) of respondents from the region listing it among their biggest worries .
Meanwhile , two-thirds ( 65 %) of business leaders in the East Midlands are losing sleep over retaining customers and clients , as SMEs struggle to compete . Delivering good customer service when the business is stretched is a particular concern for leaders in the north too , with 31 % in the north-west and 30 % in the north-east citing it as one of their biggest worries .
Following the last few years of pandemicinduced chaos , the healthcare industry ( 73 %) is understandably one of the sectors most concerned about the impact of inflation , alongside arts and culture ( 78 %). Investing in new technologies is another key concern for the sector , with a third ( 33 %) of healthcare SME leaders saying so .
The impact of Brexit is still weighing heavily on small businesses too – manufacturing ( 50 %), architecture and engineering ( 37 %), healthcare ( 33 %) and retail ( 24 %) leaders each had it among their top four concerns , with worries around the effect on imports and exports .

92 % THINK THE GOVERNMENT MUST DO MORE TO SUPPORT SMALL-AND- MEDIUM-SIZED BUSINESSES DURING THIS PERIOD OF UNPRECEDENTED DIFFICULTY .
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