Would you be better off in a different region?

posted by 4 years ago in News

700,000 small business owners in the UK have answered yes to that question according to a survey by the Association of Accounting Technicians. That amounts to one in seven (13%) of small business owners believing that they would have better opportunities if their business was based in another part of the country.

The North East came bottom of the pile when it came to business owner satisfaction with 36% claiming better opportunities could be accessed elsewhere. In contrast, those based in Wales (69%) felt that the grass wouldn’t be greener for their business elsewhere.

Predictably the area of the country that the majority of SME owners felt would provide their business with better opportunities was London (40%), followed by the wider South East (22%) and the West Midlands (9%).

Mark Farrar, chief executive of AAT, comments:

“Small businesses are the lifeblood of the UK economy and they should be given every encouragement to thrive in all corners of the country. We all know that many smaller firms struggle to survive and it is sad to think that there are some who may feel they would have gained more benefits from being in a different part of the UK.

“Improving the skills of the workforce available to SMEs is one key way in which these companies can be helped to run a highly-efficient business that gives itself every opportunity to succeed.”