Owner managed businesses: the backbone of the UK economy

Owner managed businesses make up the vast majority of enterprises in the UK, playing a vital role in the country's economic landscape.  

Results from a survey of 512 owner managed businesses launched by the Association of Practising Accountants (APA), presents a snapshot of owner managed businesses aspirations and concerns, revealing the significant challenges they currently face. It is clear that this essential sector continues to struggle with uncertain trading conditions, rising wage inflation, labour shortages, and increasing supply chain costs, all of which are restricting the capital investment needed for growth. 
 

This report serves as a call to action for the incoming administration. Owner managed businesses require structured support to drive growth. The past few years have been particularly difficult, and it is crucial for the new Government to recognise the unique needs of these businesses, implementing policies and light-touch regulations that will enable them to thrive.

Partner and Head of Mid-markets, Fleur Lewis, said:

“The APA survey brings to light the pressing challenges owner-managed businesses face, from rising supply chain costs and wage inflation to labour shortages.  Following today’s announcement that the latest poll of UK consumer confidence has fallen sharply this month, with fears of a ‘painful budget’, these issues are hindering growth and capital investment at a critical time.

As the leading business advisors and auditors to the most recently published Insider South West OMB 100 rankings, we have a wealth of experience supporting this vital sector of the UK economy. With our deep understanding of these businesses’ unique pressures, we are well-positioned to help navigate these challenges and drive sustainable growth. We anticipate the new Government responds in the Autumn Budget with meaningful, targeted support to unlock the full potential of this key sector.”

Autumn Budget made easy

Navigate the upcoming Autumn Budget at one of our seminars on October 31st. Our experts will explain the key announcements and their impact on you and your business. Click here to book your place.

Supporting your business at every stage

If you’re looking for expert guidance to help your business overcome these challenges, get in touch with our team today. Our experience with leading owner-managed businesses in the South West means we can provide the strategic insights you need to succeed in this evolving landscape.