UK Election Causing Slump In SME Start Ups

The uncertainty over whose going to win the UK election is causing a huge slump in people setting up new businesses according to Max Wallace Managing Director of UK Business Directory MySheriff.co.uk.

According to new data from the Free Business Advertising website new business start ups are down 35% on this time last year with the election given as the main reason, Max wallace explains: “Every time an election comes around we see the same patterns of uncertainty causing people to hold off starting a new venture until they are certain over who’s in power.”

He added: “If you are starting new Restaurants or Fashion Shops you don’t want to set up in an election its generally quieter as people hold off spending in general. Instead you wait to see what type of positive momentum is created and try to ride it.”