The next government’s top priority must be to invest in the country’s infrastructure, according to a survey of fast-growth entrepreneurial businesses across the South West.
Some 31% taking part in the survey for accountants EY put road, rail and air links at the top of their wish lists followed by investment in improving broadband speeds (19%).
EY surveyed 150 business leaders across the UK – all alumni of its Entrepreneur Of The Year awards programme – and asked them to select the areas that they believe the next Government should prioritise to fuel growth. 
Other critical areas for South West were funding for apprenticeship and re-skilling schemes, creation of hubs to drive innovation and growth through collaboration; and forging stronger links with universities to encourage new business start-ups.
EY regional partner specialising in fast growth entrepreneurial companies, David Wilkinson, said: “In the South West almost a third of entrepreneurs opted for investment in transport infrastructure as their number one priority, followed by an improvement in broadband speeds, which demonstrates the range of challenges regional businesses face.
“Infrastructure in the South West received a welcome boost after the Government announced an investment of £7bn in transport strategies in the Budget, with the announcement of a new rail franchise to greatly improve rail services across the region. This should improve access to the region for both business and tourist passengers and buoy the regional economy.”
While infrastructure was seen as key in the South West, entrepreneurs in other parts of the UK had other priorities.
Corporation tax did not feature in the list of top five priorities for entrepreneurs in the South West, but entrepreneurs in London and the Midlands put it first, with those in the capital calling for more support for road, rail and air links, listing this as their second priority.
In the Midlands an increase in funding for apprenticeship and re-skilling schemes was number two.
Northern respondents placed ‘the creation of hubs in locations across the UK to drive innovation’ top of their priority list.
David Wilkinson added: “We saw new and extended Enterprise Zones introduced in the recent Budget, and our results suggest that entrepreneurs see hubs like these as a crucial way to foster growth and innovation.
“Potentially supported by newly developed infrastructure and increased local decision making powers, industry hubs could prove to be an important ingredient in balancing the UK economy and perhaps boosting the competitiveness of the South West region in the long-term.
“There is optimism in the air amongst entrepreneurs who have their sights set firmly on growth. A report released by EY in September last year revealed that 93% of UK entrepreneurs expected their turnover to increase in the next three years.
“However, 77% stated that attracting the right talent was a major barrier to achieving growth plans. The next government needs to deliver clear policies to encourage dynamic entrepreneurs to continue to build jobs and prosperity, benefiting the wider economy.”
