As Boris Johnson stepped into the role of Prime Minister, the Federation of Small Businesses (FSB) called on him to resolve Brexit and focus on the issues currently concerning small businesses.
Three burning issues for SMEs
As the UK’s largest business group, the FSB recently sent representatives to meet with Boris Johnson to discuss priorities for the new administration. With Mr Johnson now in post, the FSB is urging him to address three of the major issues concerning small businesses.
Modernise the business rates system
The two-year 33% rates discount is currently enjoyed by small retailers with rateable values up to £51,000. The FSB asks that this be extended to manufacturers, and for the discount to be made permanent. They’ve also asked that nurseries have the same 100% rate relief as Scotland does.
Upgrade the Employment Allowance
Small businesses are struggling with spiralling employment costs. The FSB have suggested that some changes to the way that businesses are charged for employing someone could make a significant difference. So far, their recommendations include:
delivering a promised national insurance holiday for firms employing those furthest from the labour market
introducing a rebate for Statutory Sick Pay
shoring up apprenticeship funding at the upcoming Spending Review
Get businesses connected
Significantly increasing investment in the UK’s broadband and phone infrastructure will ensure all small firms have access to the upload and download speeds they are entitled to under the Universal Service Obligation (USO) and reliable 4G connectivity.
FSB national chairman Mike Cherry said that discussion with Mr Johnson during his campaign had been promising, but that Brexit had failed to address domestic challenges.
“Securing a pro-business EU withdrawal agreement that can command a majority in the House of Commons is task one for this new administration,” he said. The FSB urge that this time sensitive issue is holding back small businesses, with no ability to grow or plan for the future, until this is resolved.
What are your three ‘burning issues’ as a small business owner? What changes would you like to see? Let us know.
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.