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January 2015 getsurrey.co.uk/business in association with
Election result rules 2015 Business leaders are keeping a watchful eye on the outcome of May’s General Election as they prepare for further growth By Tom Smurthwaite
tom.smurthwaite@trinitymirror.com
As the main parties position themselves for the impending General Election, businesses will be watching carefully for any knock-on effects to the economy.
BUSINESS figures from across the county have given their predictions for the upcoming year, with many pointing to the importance of the General Election result in May. Richard Arris, head of Reigate investment company Brewin Dolphin, is anticipating a ‘significant year’. He said: “The unpredictable election and talk from all sides about more devolution will give us much to consider and be sure any changes will advantage our clients and our business here in Reigate. “While we are impressed with the Government’s reform of savings to date, now is perhaps the time for some stability, as too many shortterm changes to long-term savings plans can dent the confidence savers need to invest for their futures.” And David Nicol, chief executive of Brewin, highlighted the ‘most uncertain political landscape in living memory’. “There is very little idea of how this drama will play out. The biggest challenge to our industry is to ensure savers can benefit from the veritable savings revolution that starts on Flexiday in April, and for the years to come.” At Guildford law firm Charles Russell Speechlys, Jamie Cartwright, a senior associate, thinks 2015 will see the rise of mediation between businesses. He said: “With the General Election only months away all parties are gearing up
to tell us what they plan to do about the deficit, and an area that is always under scrutiny is legal reform. “Recently, the Government implemented both a rise in the cost of bringing a claim in court and also penalties for organisations that don’t seek the option of mediation before undertaking a more costly (to the taxpayer) courtbased ruling.” When used correctly, Mr Cartwright added, mediation can often be a successful way of avoiding both the risks and costs of litigation, and the wrath of the court.
‘As economic recovery has led to falling unemployment, small businesses have been disproportionately responsible for creating new jobs.’ – John Allan. Ian Miller, managing director of Shackleford pallet company Frederick Miller, believes economic recovery must be sustained throughout 2015. He said: “While no party has an ideal set of solutions, I very much hope there is no major change in power at Westminster. As for Frederick Miller, I am feeling very positive about 2015. We are anticipating significant growth from our storage and fulfilment business and will be investing further in our staff, vehicles and infrastructure in order to fuel further growth.”
Steering clear of political comment, John Allan, national chairman of the Federation of Small Businesses (FSB), is struck by a ‘feeling of optimism’ as he looks ahead. He said: “It feels like small business owners are finally receiving the recognition and support from across the political spectrum that has long been the mission of the FSB. “Small firms still face many issues, not least the scandal of late payment and supply chain bullying, but it seems like there has never been such a strong opportunity to make a positive impact on the outlook for small firms.” Looking back on 2014, Mr Allan noted that the number of small businesses broke five million for the first time. “There are now more entrepreneurs, sole traders and freelancers than ever. There are also more small firms taking on their first employee, growing and innovating across the UK,” Mr Allan said. “As economic recovery has led to falling unemployment, small businesses have been disproportionately responsible for creating new jobs. Our latest Small Business Index found small business productivity was in positive territory in 2014 for the first time since 2010. Mr Allan said that small business exporting is also up, along with wages in sectors like personal services, construction and agriculture. “This growth and economic contribution has not gone unnoticed,” he added.
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