According to iwoca's latest SME Expert Index, over one-third of finance brokers believe that lower taxes are essential for stimulating SME growth this year, significantly outpacing the second most popular suggestion of reforming business rates. Additionally, 70% of brokers feel that conditions for SMEs have deteriorated since the Labour Government took office. Concerns about rising business costs and inflation remain dominant. Yet, optimism is evident, as nearly half of brokers anticipate a more positive SME outlook for 2025 amid ongoing economic challenges.
More than a third (38%) of finance brokers say lower taxes are needed to boost SME growth this year, according to iwoca's latest SME Expert Index.
Economic optimism bounced back in the last quarter of 2024, with almost half of SME finance brokers (46%) reporting feeling optimistic about SMEs' future in 2025.
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