Schemes introduced by the Government and Mayor of London have failed to have help businesses in the capital, according to the London Business Survey 2009, which is published today.
According to the survey, which heard from 300 companies across the capital, 71% of businesses say the VAT reduction had no impact on their business. When asked what impact the Government’s programme of help for business had on their company, almost 90% responded “none at all”.
That figure rose to more than 93% when asked “What impact has the Mayor Of London’s Office current programme of help for business had on your
Less than 8% of respondents said initiatives by the London Development Agency had had a positive impact on their company, with 91% saying they’d had “none at all”.
The survey was carried out by Business Junction and Clarity between March 3rd – 19th 2009 and invited companies across London to submit their views on how the recession and credit crunch has affected them directly and their outlook for 2009.
Commenting on the results Mark Herring, Director of Business Junction said efforts to help businesses “have been poorly targeted and are not the answers to business requirements at this moment.”
“This recession is different from previous ones. Networking, the internet and other new technologies have changed the ways London companies do business with one another. The Government and Mayor have a lot to learn from smaller businesses. They need to quickly start engaging directly with all London companies so that together we all help rebuild the London economy.”
The full survey can be downloaded from www.businessjunction.co.uk/londonbusinesssurvey