Four in 10 owners of small to medium sized businesses  are concerned they will have to close in the next 12 months, while 50% are struggle to find financial support, and over two-thirds believe that business taxes are too high, found a survey by Sumer Group.

Some 61% of UK workers are employed by small businesses, highlighting their importance to the UK economy and their significance when meeting the government’s proclaimed aim to drive UK growth.

A huge shift in employment rights set to come in shortly under Labour’s Make Work Pay Plan is also worrying many SMEs, along with the rises in the national minimum wage.

Warren Mead, CEO of Sumer, said: ‘This is about more than statistics. Smaller businesses are embedded within the fabric of their communities – they provide a sense of pride in place – they are a platform for social mobility.

‘In