In a vote of confidence for the UK¹s small business sector, 62% of people in a nationwide survey said they trust small businesses rather than large firms to help get the economy going.
73% say economy would get bigger boost by making bank funds available to small businesses ….and small business owners are trusted more than politicians, big firm bosses or celebrities
In a vote of confidence for the UK¹s small business sector, 62% of people in a nationwide survey said they trust small businesses rather than large firms to help get the economy going.
And the majority of people questioned are in favour of government plans to set up a state- backed small business bank, with 73% believing the economy would get a bigger boost by making money available to small businesses rather than financing larger companies (only 7% favoured giving more money to big firms).
The findings come from a survey of 1000 UK adults conducted by rapid online survey company, Usurv in which small business owners also came top of a list of people the country most trusts, beating politicians, big company bosses and celebrities:
Who do you trust more?
- Owners of small business of up to 50 employees: 58%
- Senior managers and directors of large well known businesses: 7%
- Senior managers and directors who work in the public sector (such as NHS, local govt and civil service): 6%
- Celebrities: 3%
- Politicians: 1%
- Don’t know: 25%
The majority of the sample (72%) would prefer to work for a small business rather than a big firm, citing greater job satisfaction and the ability to play a bigger role in the business as the chief reasons. Only 28 per cent would choose to work for a large company.
Top reasons why people prefer to work for a small business
- Greater job satisfaction: 75%
- Play a bigger role in the business: 46%
- Better work/life balance: 40%
- Greater flexibility: 34 %
- More freedom/fewer rules: 31%
“Our poll seems to indicate that people are overwhelmingly in favour of small businesses, and are firmly behind government plans for a state bank to provide them with loans. The public trust small businesses and nearly three quarters want to work for them. It looks like we’ve moved from being a nation of shopkeepers to a nation of small businesses.”, said Guy Potter, director and chief market research at Usurv, which runs a web site that enables small businesses to do their own fast, low cost research to help make more informed business decisions.
Participants were asked:
1) Which of the following do you trust more?
- Owners of small business of up to 50 employees: 58%
- Senior managers and directors of large well known businesses: 7%
- Senior managers and directors who work in the public sector (such as NHS, local govt and civil service): 6%
- Celebrities: 3%
- Politicians: 1%
- Don’t know: 25%
2) The government has said it will create a new state bank to make loans more accessible to small businesses. Do you think the economy would get a bigger boost if bank money was made more available to:
- Small businesses of up to 50 people: 73%
- Larger businesses: 7%
- Don’t know: 20%
3) Who do you trust to get the economy going again? Small businesses or large businesses?
- Small businesses: 62%
- Large businesses: 17%
- Don’t know: 21%
4) If you had the choice, would you prefer to work for a small business or a large business?
- Small business: 72%
- Large business: 28%
5) Which of the following reasons made you say you¹d prefer working for a small / large business (answer all that apply)?
Small business:
- Greater job satisfaction: 75%
- Player bigger role in the business: 46%
- Better work/life balance: 40%
- Greater flexibility: 34 %
- More freedom/fewer rules: 31%
Large business:
- Perks eg pensions: 53%
- Better pay: 48%
- Better training: 40%
- Better work/life balance: 35%
- Faster career progression: 30%
