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Furthermore, just 3% strongly agree with the statement that, “SMEs are well prepared for the UK’s departure from the EU in 2019.”
The study examines MPs views on a wide range of issues relating to the UK’s 5.7m SMEs including exports, tax accountancy and the availability of help and advice.
Exports
An incredible 88% believe that SMEs must increase exports if Britain is to fulfil its potential as a trading nation, with just 1% disagreeing.
The news is perhaps less surprising given the UK currently ranks in the bottom five for SME exports according to recent research from the Centre for Economics and Business Research (CEBR).
Business distractions
A clear majority of MPs (58%) from across the political divide believe that the amount of time and money spent on dealing with the tax system seriously impacts upon SMEs ability to invest and create jobs. In contrast, just 6% disagree.
The role of accountants
On a more positive note, over two thirds of MPs (69%) believe that professional accountants play a vital role in supporting small businesses and helping them to grow. Only 1% disagreed.
ACCA and AAT say there’s strong evidence that accountants are the most trusted and used source of business support amongst UK SMEs. Both bodies are working closely with the government to ensure information and advice is more effectively delivered to the SME community. ACCA for example has a memorandum of understanding with the Department for International Trade (DIT), while AAT has developed Informi, an online portal offering free expert advice to small businesses.
SME support
Both start-ups and those who have been in operation for a number of years need more free and independent information, advice and guidance according to MPs. Almost three quarters (73%) believe this to be the case.