As reported by Business Biscuit, the Federation of Small Businesses is calling for a Budget that eases costs and boosts growth as small firms face a 56,000 drop in numbers
The Federation of Small Businesses is calling on chancellor of the exchequer Rachel Reeves to deliver a decisively pro-small business Budget, saying SMEs are “sick of stagnation.” The plea comes as new figures reveal a 56,000 drop in the number of small businesses last year.
It calls for specific measures to ease employment costs, remove barriers to accessing finance for investment, and lift more small firms out of the burden of business rates. The FSB is also urging the chancellor to resist pressure to introduce anti-enterprise tax rises, as new official figures highlight the urgent need to encourage more start-ups as well as support existing small firms.
The figures – from the Department for Business and Trade – revealed a 56,000 drop in the number of small businesses in the UK between early 2023 and early 2024.
“A decisively pro-small business Budget is the first and best chance for the Chancellor to secure sustainable growth by the end of the Parliament,” said Tina McKenzie, policy chair of the Federation of Small Businesses. “For small businesses, the barriers to investment are very personal. To help small businesses invest, employ and grow, we are asking the chancellor to tackle the barriers that dissuade small businesses from growth.”
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