It’s not the CEOs of massive companies that are struggling, but the owners of the millions of small businesses and shops across the country. In his recent Autumn Statement, George Osborne acknowledged some of the issues that affect these small businesses, and laid down ways in which he hopes to help them.
George Osborne said in last week’s Autumn Statement, “There is one group of businesses that have found the recession especially hard – as it has coincided with a rising challenge from the internet that is only getting stronger. These are our local retailers – the shops, the pubs and the cafes that make up our high streets across Britain. With Small Business Saturday this weekend, I want the Government to do all it can to help them. We’re already changing the planning rules to help town centres compete. To get the vacant shops that blight too many town centres to open again, I am introducing a new reoccupation relief that will halve the rates for new occupants.”
His words are reassuring for many small business owners, but the question that may still be lingering in their minds is, “How does this all affect me?”
It’s clear that small businesses play a big role in the economy, and if the Autumn Statement is anything to go by, the future looks bright for SMEs. Time will tell whether the Chancellor’s promises come true, but for now, small business owners can rest assured that relief will be more available than ever. In the words of Osborne himself, “Britain’s moving; let’s keep going.”
This article was provided by 1st Contact Accounting, which gives forward-thinking individuals the tools to steer their financial affairs forward.