It was a surprise for most that the Conservatives managed to win the election with an overall majority. But many in the world of business breathed a sigh of relief, which found a very real manifestation in an almost immediate surge in share prices and the value of the pound.

Their anxiety was largely caused by the prospect of a hung parliament, and the inevitable weeks of uncertainty that would have followed. Now we know that the government will remain relatively stable.

But what about the result itself – will business benefit under five years of the Tories?  

Despite Ed Miliband supporting what he calls “responsible capitalism”, the Tories are often perceived as the most business-friendly of the major parties. Unsurprisingly, then, the UK private equity industry seems, in general, fairly pleased with the result.

According to data gathered by unquote.com, the amount of deals (including early-stage deals, expansions, and buyouts) dropped in the build-up to the election. However, with the Tories in power, the number of deals is expected to increase over the coming months.

But – every silver lining has a cloud – since the Tories got in on a manifesto that promised a referendum on EU membership by the end of 2017, there will be more uncertainty to come, and, in turn, the potential for another lull in deal flow.

When it comes to small businesses, both Labour and the Conservatives claim to place a high value SMEs and the economic benefits they bring. And this is perhaps one reason why, even before the election, the number of people starting businesses – over half a million last year – was at record level. 

The Conservative manifesto pledges to remove lots of unnecessary red tape, review rates, and pump £100bn into infrastructure – including their vision of HS2.

All potentially great for small businesses, but perhaps the self-described “minister for small business and enterprise” would do well to lead by example and allow more SMEs to win local authority and central government contracts (90 percent of which still go to larger companies, despite the coalition promising to change this).

Do you think five years of the Tories will be good for business?

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