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Lack of awareness around Government industrial strategy

POSTED: 27th November 2017
IN: Newsroom
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Following the launch of the Government’s Industrial Strategy White Paper today (27th November), Carl D’Ammassa, Aldermore’s Group Managing Director, Business Finance, says there is an astonishing lack of awareness around it.

“It is early days for the Government’s new Industrial Strategy, however it appears that the lofty ambitions for the Strategy are yet to translate into awareness. The green paper was announced to much fanfare earlier this year, however our recent Future Attitudes study, which surveyed over a thousand senior SME decision makers across the UK, revealed an astonishing lack of awareness about the Strategy, with fewer than three in ten (29%) small and medium-sized enterprises (SMEs) claiming to have heard about it. 

“Furthermore, out of those who were aware of the Strategy, less than a third (30%) were confident that it will prove effective, with fewer than two in five (38%) believing it will have a positive impact on their business.

“To ensure the Industrial Strategy is a success, the Government needs to listen to those who run and manage their own businesses, and focus on the areas of greatest importance to them. Our study indicated that Britain’s SMEs believe the single most important outcome should be to drive growth across the whole country. Just under a fifth (17%) of SMEs said that the Government should focus on this goal above all else, while 16% of respondents think that any strategy needs to lead on supporting businesses to launch and grow.

“Businesses are clearly indicating a need for greater support particularly as they are looking to scale up, and a vital part of this is access to finance, which is something we at Aldermore are committed to, enabling the UK’s SMEs to get on with supporting and boosting the UK economy.”

**Ends**

For further information, journalists can contact:

Chelsey Palmer, Aldermore
Phone:          0208 1853 142
Email:           Chelsey.Palmer@aldermore.co.uk

Follow us on Twitter: @AldermoreNews

Tom Pavey-Smith, Lansons
Phone:          0207 294 3606
Email:            thomasps@lansons.com

Notes to Editors:

Research conducted by Opinium Research between 13th and 21st February 2017 with a nationally representative sample size of 1,003 senior decision makers in SMEs.

For further information about Aldermore, please review our Notes to Editors page

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