The figure is revealed in a new YouGov report for the Asphalt Industry Alliance today which claims that 55% of small and medium sized enterprises in England and Wales are losing on average £13,600 each per year.

The Economic Impact of Local Road Condition, reveals that bad local roads are costing SMEs thanks to accidents, vehicle damage, decreased productivity and increased business costs.

On average each affected business reported losing 216 hours a year in delays – the equivalent of one member of staff being absent for five weeks of the year.

Local authority roads account for over 95% of the country‘s network and highways departments are facing a shortfall in funding of £800m

The Asphalt Industry Alliance is now calling for :

Colin Loveday, Chairman of the Asphalt Industry Alliance, said: “This report demonstrates that there is a sound economic argument for properly funding local road maintenance as a key measure to help the economy emerge from recession.

“Improving the condition of local roads would take the brakes off our SMEs and help them to drive the recovery forward.”