In a letter in today's Daily Telegraph, undersigned by many of the CEOs of the largest businesses in the UK, British business has come out in favour of the Chancellor of the Exchequer's impending cuts to spending in the public sector.
The impetus behind this backing is that the British economy is in a sound enough footing [the green shoots etc.] to take up the strain of any natural wastage caused by government savings. This is a very fine statement by these businessmen except for one point, and that is that they are all on the board of a very large businesses.
It has long been a fact that most of the job creation in the UK has been done at the hand of the nation's small businesses, not the large, and these have not been consulted in the formulation of the letter. It is not so easy as signing a letter when you have to run a smaller business, banks are not quite so willing to extend credit, cover month to month expences: business health insurance policies; salaries; rent; insurance.
Small to medium businesses must never be confused, they have widely differing challenges, and need much different skillsets in management, it is almost impossible for large business leaders to make this claim, Mr Osborne needs, instead, to listen to the world of small business.
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