UK small and medium-sized enterprises (SMEs) said Government support measures have not gone far enough, according to Bibby Financial Services.
The Q3 2025 SME Confidence Tracker, which surveyed 1,000 businesses, found that over half of small firms believed initiatives like the Fair Payment Code and the British Business Bank’s Bank Referral Scheme had failed to protect and support them.
62% of business leaders said inflation and high costs were their main challenges, including recent rises in National Insurance and the national minimum wage.
Many SMEs said these cost increases were making it harder to invest in jobs and growth.
Jonathan Andrew, CEO at Bibby Financial Services, said: “The current economic climate is hugely challenging for SMEs that are seeing profit margins and spending power eroded, and overheads increasing.
“On top of continued supply chain pressures both domestically and internationally, these issues pose a significant risk to economic growth, but more importantly, they threaten the survival of thousands of small businesses across the country.”
Ahead of the Autumn Budget, nearly 40% of SMEs wanted low-interest loans, over a third called for reduced business rates, and 9% wanted the rise in National Insurance reversed.
US tariffs were also hitting profits for many small firms, with nearly a quarter wanting new trade agreements and others calling for more help with international tariffs.
Andrew added: “Businesses are crying out for support and are sending a clear message that the high cost of business experienced in recent years is reaching boiling point.
“What they need are practical measures that protect them against mounting cost pressures and volatile international trading policies.
“This support must be forthcoming if the UK economy is to prosper any time soon.”
He said: “There’s a real opportunity in November for the Chancellor to back Britain’s small businesses with bold measures that cut red tape, roll back the burden of increasing costs and improve the environment for international trade.
“SMEs need to see these promises turned into concrete actions that restore their confidence to invest, hire and expand rather than just survive.”
