Monday 10 November, 2025 – A new poll conducted by Rathbones, one of the UK’s leading wealth and asset management groups, has revealed that nearly two out of three (63%) small and medium-sized enterprise (SME) owners and bosses feel that the government is not doing enough to encourage business growth in the UK. This sentiment is shared by more than two out of five (42%) respondents who believe that government policies are not supportive of businesses.
The survey, which interviewed 1,024 SME founders, owners, and senior executives between October 24th and 27th 2025, also revealed that one in eight (12%) SME leaders, equivalent to around 680,000 businesses out of the UK’s 5.67 million, are actively planning to relocate themselves, their businesses, or both due to the current tax burden. Of those planning to relocate, a third (33%) said they would also move their business abroad, while another third would move as individuals. The remaining business owners plan to only relocate their businesses.
Ireland was rated as the top destination by 26% of this cohort, followed by 21% choosing Dubai and 18% selecting the US.
In addition to the businesses planning to relocate, a further 26% of SME leaders expressed concern about the current tax environment, despite not planning to move overseas.
These findings come just weeks before the upcoming Budget, where the Chancellor is rumored to raise the burden of business once again.
Ade Babatunde, Senior Financial Planning Director at Rathbones, expressed concern over the potential loss of tax revenue and employment opportunities if these businesses were to leave the UK. “SMEs are the backbone of the UK economy, and their departure would have a significant impact on the government’s ambition to get Britain growing,” he said.
The poll also revealed that there is a general sense of dissatisfaction among SME leaders with current government policy. Nearly two-thirds (63%) believe that the government is not doing enough to incentivize business creation and growth, while 42% feel that government policies are unsupportive of businesses.
When asked about the impact of recent policy changes, 36% of respondents said that increases in Employers’ National Insurance and the National Living Wage have moderately or significantly affected their businesses. In addition, 43% cited tax changes as having the biggest impact, while 13% pointed to employment law changes.
In terms of policy priorities, 49% of SME leaders want tax breaks to encourage business growth and staff hiring, while 25% support incentives for business owners to take risks, and 21% favor rewards for business success.
According to Babatunde, these findings highlight the need for the government to provide incentives for risk-taking and recognize business success. “These are not just asks – they are essential ingredients for a thriving economy,” he said.
Rathbones, with offices across the UK, has extensive experience working with entrepreneurs and family-run businesses. For more information, visit their website for wealth management services for entrepreneurs and business owners.
Notes to Editors:
– Rathbones commissioned independent research agency Viewsbank to conduct the survey.
– The survey interviewed 1,024 SME founders, owners, and senior executives between October 24th and 27th 2025.
– *According to the latest statistics from the UK government, there are an estimated 5.67 million businesses in the UK as of 2025.