SMEs 'believe social investment is less important than cutting the deficit'

Social investment and crime prevention are low on the list of priorities of small and medium enterprises (SMEs) in the north-west, according to one industry specialist.

The Forum of Private Business (FPB) found 78 per cent of the region’s SMEs believe reducing Britain’s debt should be a priority of the new coalition government.

Respondents also took an interest in corporate banking regulation, saying stronger rules should govern their activities, as well as those of utility providers.

Forum spokesman Phil McCabe comments: ’Business owners in the north-west seem particularly keen to see stronger regulation of the banks. This perhaps shows they have had problems accessing credit through the recession and [want] to see the banking industry held to account for the financial crisis.’

Wealth management may also have been on the mind of business owners, 67 per cent of whom are in favour of tax simplification, reveals the survey.

The FPB is a not-for-profit organisation which offers information and support services to SMEs based in the UK. ADNFCR-2318-ID-19834566-ADNFCR