Businesses more likely to back Labour than the Conservatives to be the next government

• Half (52%) of British businesses with a turnover of £250,000 or more agree that Labour is ready to form the next government. 
• Businesses are most likely to find Labour to have the best policies relating to the economy, people in work, and supporting businesses, with the Conservatives ranking second and Reform UK third.
• Businesses are most likely to rate their main priorities for a new government as helping with energy costs, encouraging greater investment in Britain, and addressing skills needs.

New polling from Ipsos explores the attitudes of British businesses on the various parties’ ability to manage the economy and support businesses. 

The poll finds that half (52%) of British businesses with an annual turnover of £250,000 or more say that Labour is ready to form the next government. Conversely, just a third (33%) believe that the Conservative government deserves to be re-elected. 

Of all the parties, businesses are most likely to find Labour to have the best policies to manage the economy, and to help people in work. Over two-fifths (46%) of businesses with an annual turnover of £250,000+ feel Labour specifically has the best policies for people in work, compared to under half that proportion (21%) for the Conservatives. Overall, the Conservatives rank second and Reform UK third.

Elsewhere in the poll, businesses were asked what the top priorities should be for a new government to support businesses. Irrespective of size, businesses agree that helping with the cost of energy, encouraging greater investment in Britain, and ensuring that workers have the right skills should be at the top of the government’s list.

Commenting on the findings, Trinh Tu, UK Managing Director, Public Affairs at Ipsos, said:

Shadow Chancellor Rachel Reeves has focused on positioning Labour as the 'party of business' – a strategy that seems to be resonating with larger businesses. A majority now believe Labour is ready to lead the country and support businesses. This backing is crucial for Labour, as their manifesto relies heavily on robust economic growth. However, lower turnover businesses remain less convinced. Labour faces the challenge of broadening their appeal and demonstrating how their economic vision will benefit businesses of all sizes.

Technical note
Findings come from a representative sample of 1,146 British businesses with an annual turnover of £250,00 or more (surveyed between 3-17 June 2024), and a representative sample of 1,797 business owners and partners running businesses with an annual turnover under £250,000 (surveyed between 7-12 June 2024). Data are weighted to match the profiles of the respective populations. All polls are subject to a wide range of potential sources of error.