E was widespread disappointment amongst the City’s entrepreneurs about the prospect of a hung parliament, with many feeling a lack of leadership will stunt business growth.
“This is a rotten result,” said Chris Oulton, founding partner at Prime Rate Capital Management. “Business is all about effective decision making and it helps to have a political framework that endorses that, an unclear result is the worst outcome.”
Without strong leadership, Chris Cole, founder of WSP, the consultancy, is worried that businesses won’t have the confidence to expand their operations: “For the last two years businesses have just been pleased to survive, we need to grow, but to grow we need leadership. This is not a good day for business.”
Former Dragons’ Den star Doug Richard said the overriding feeling among entrepreneurs at this stage is anxiety: “Small businesses are anxious, and it stems from the fact that a hung parliament will make it harder to improve the overall economic backdrop in the UK.”