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The Budget: One Month On
Listed under: News
Published: Thursday, May 21, 2009
A recent report from the Forum of Private Business (FPB) has revealed that up to 97% of small enterprises currently believe the Government is not doing enough to support them, with 94% saying last month's budget failed to address the biggest issues threatening their survival and a further 25% believing it would actively harm their businesses in the long run.
Despite introducing a number of measures to ease cash flow problems – such as extending loss relief, doubling capital allowances and instigating a new £5 billion credit insurance scheme – the budget has done little to ease people's concerns, with less than ten percent of business owners currently believing it will help their enterprises grow.
"The 2009 budget has received a big thumbs-down from our members," says the FPB's campaigns coordinator, Jane Bennett. "The results of our survey highlight the Government's missed opportunity to support employers and prevent job losses.”
Retailer Wendy Gale, who owns papercraft store The Stamp Attic in Oxon, agrees last month's budget has done little to help. “There is absolutely nothing in there for small businesses,” she says. “The Government is utterly clueless when it comes to the needs of modest shops like mine, often thinking a small enterprise consists of somewhere with ten employees and a million pound turnover. But that's simply not the case. There are hundreds of tiny independent stores that are completely self-run and we need help too.”
She adds “Improvements in employment laws don't do anything to aid us and the VAT changes earlier this year were an absolute nightmare. Reductions in business rates are what we need most right now. However, this is unlikely to happen as it is currently too big a source of revenue for the Government. The budget has done nothing to ease my concerns about the year ahead and I am sure many other independent retailers feel the same.”
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Despite introducing a number of measures to ease cash flow problems – such as extending loss relief, doubling capital allowances and instigating a new £5 billion credit insurance scheme – the budget has done little to ease people's concerns, with less than ten percent of business owners currently believing it will help their enterprises grow.
"The 2009 budget has received a big thumbs-down from our members," says the FPB's campaigns coordinator, Jane Bennett. "The results of our survey highlight the Government's missed opportunity to support employers and prevent job losses.”
Retailer Wendy Gale, who owns papercraft store The Stamp Attic in Oxon, agrees last month's budget has done little to help. “There is absolutely nothing in there for small businesses,” she says. “The Government is utterly clueless when it comes to the needs of modest shops like mine, often thinking a small enterprise consists of somewhere with ten employees and a million pound turnover. But that's simply not the case. There are hundreds of tiny independent stores that are completely self-run and we need help too.”
She adds “Improvements in employment laws don't do anything to aid us and the VAT changes earlier this year were an absolute nightmare. Reductions in business rates are what we need most right now. However, this is unlikely to happen as it is currently too big a source of revenue for the Government. The budget has done nothing to ease my concerns about the year ahead and I am sure many other independent retailers feel the same.”
What do you think? Email us your thoughts to .(JavaScript must be enabled to view this email address)
