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More confidence in UK among small businesses

Published on 26 Apr 2010 under category: legal

More firms in the UK are planning to grow their businesses because of increasing expectations about the economic climate, according to new research.

Hiscox found in its DNA of an Entrepreneur study that over half of UK firms were positive about the economic year ahead, with around a quarter (25 per cent) planning to expand their business in 2010.

Overall, 55 per cent believed that the prospects for this year were good, with 50 per cent saying that it might even be a good year to start a business.

However, more than one in three (32 per cent) thinks that the UK government is discouraging of enterprise and does not do enough to support small to medium-sized businesses.

Just under three-quarters (74 per cent) blamed this on taxation and over half (55 per cent) considered "inflexible labour laws" to be at fault.

Despite these concerns, around 31 per cent believe that the education system could change this, as it supports ambition and "individual ideas and dreams".

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