Whilst small firms have a vague grasp of the implications Alistair Darling's proposed changes will have, only one in ten understand how they will directly apply to their business.
According to the research, over half of small business owners were anxious about the additional red tape generated by this legislation.
Encouragingly nearly two thirds of respondents regularly consult an accountant, helping them apply Budget-based changes into their business model. Another 56 per cent search the internet and 38 per cent refer to TV and newspaper reports.
Steve Jennings, director of business banking at Alliance & Leicester Commercial Bank, said the findings were a worry. He advised: “With good planning, businesses can prepare for these financial threats.
"Reviewing outgoings is just one area where businesses can save considerable amounts of money. Look at regular costs such as utilities and bank charges and ensure you shop around for the most competitive deals.
