Clear Books accounting software undertook a survey of 8,816 small businesses a week before the election to find out their views on the the economy; half of those that took part in the survey were one person businesses, with a large proportion (43%) employing between 2-5 people.

At the time of writing this blog article these are the findings from the Clear Books small business survey:

National Debt

58% of business owners want to see public debt cut this year, whilst 30% think it should be cut next year, 3% did not want a cut in public debt and 9% were unsure as to when the debt should be cut.

Chancellor Of The Exchequer

According to the survey respondents Vince Cable is the man for the job with a majority of 36%, George Osborne came second on 33% and Alistair Darling was the loser on 12%, however Mr Darling should take heart from the fact that 19% of our respondents were not sure who would make the best Chancellor.

Hung Parliament

37% felt that a hung parliament would affect their business negatively, 28% felt it would have no affect and 29% were unsure. 6% of respondents felt that a hung parliament would in fact benefit their business.

Banks Into Smaller Institutions

The majority of small businesses (67%) felt that banks should be broken up into smaller institutions whilst 20% disagreed and 13% were unsure about what should be done with them.

Double Dip Recession

The recession debate caused a an even split; with 35% saying that the UK economy would fall back into recession this year, whilst 35% disagreed and 30% were unsure.


53% of businesses stated that profitability has fallen in the past 12 months with 35% stating that it remained steady and 12% actually reporting an increase in profitably.


57% of small businesses felt that the Conservatives had the best policies for their business, whilst 17% voted Liberal Democrat and 12% Labour. 14% of respondents felt that another party would be better for their business.

If you have any thoughts or comments on your experience as a small business owner please feel free to leave your opinion below. See more about our tax accounting software here.

Posted by Tim Fouracre

Tim founded Clear Books in 2008. Like many small business owners he worked from home for 15 months to get his startup off the ground. Today Tim enjoys helping Clear Books, its customers and its growing team innovate and achieve. Tim did his GCE O Levels in Ghana.