• 40.2% of UK business owners state they’ll be voting for Labour in this year’s General Election
• The Liberal Democrat party will also be reeling in more business owner votes than the Conservatives
• However, Rishi Sunak is the favourite candidate with two fifths of the votes (40.2%)
• Reversing Brexit, reducing VAT and reducing corporation tax are the three key areas business owners feel policy change would benefit them most

 The team at www.britishbusinessexcellenceawards.co.uk surveyed 1,000 UK business owners with a turnover of between £500k and £6m on the topic of the upcoming 2024 UK General Election.

 When initially asked who they would be voting for in the General Election, Labour came out prosperous with two fifths of the votes (40.2%), followed by the Liberal Democrats (28.7%) and Conservatives (26.7%). 

 However, when asked who they thought would do a better job for British businesses, Rishi Sunak was voted as the most favourable (40.2%), with Sir Kier Starmer receiving almost one third of votes (32.1%). Ed Davey did receive a small amount of the votes (8.9%), but almost one fifth of UK business owners (18.8%) don’t feel either of the three main candidates would do a particularly good job. 

 Finally, when asked which policy change would help their business the most, business owners stated the following:

• Reverse Brexit – 38.8%
• Reduce VAT – 22.4%
• Reduce Corporation Tax – 22%

Sarah Austin, Director of www.britishbusinessexcellenceawards.co.uk, commented: “While the date for this year’s General Election is yet to be determined, it’s evident that the Conservatives face an intimidating challenge in retaining power. Labour is clearly the favourite party among business owners, but that’s no doubt largely due to Conservative Party fatigue and not the leadership of Rishi Sunak. It’s clear that business owners see Rishi as a steady hand as he ironically received the most votes. 

 “It’s concerning to hear that so many business owners don’t feel either of the three main candidates will do a particularly good job for British business. With the UK coming out of recession, the cost-of-living crisis ongoing and inflation and interest rates high, business owners need to have some level of trust in the leading party, especially the Prime Minister – whoever that may be. All we can do is hope that the new Prime Minister will take steps to ensure a successful future for British business – as we all know, the likelihood of a Brexit reversal is slim to none, so we must look forward to a way of supporting and celebrating British business.”