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productivity is to move in the right direction. We would remind her that SMEs employ nearly 60 per cent of the UK workforce. They are also the backbone of the county’s economy and it is vital that they are supported, not harmed.


Even in the difficult circumstances she finds herself in, there are things the chancellor can do to help them.


They include raising the VAT registration threshold to £100,000 to boost small business growth and reduce the compliance burden.


Then there is the matter of the burden of business rates. The government has acknowledged that the current system acts as a barrier to investment.


And a worrying survey earlier this year warned that one in eight small business owners on local high streets confirmed that without reforms to business rates, they are at risk of shutting down.


Thankfully it appears that some reforms look to be on the way. Pre-Budget the Treasury has confirmed that a number of options are being considered.


The situation does not look particularly promising as we head towards Rachel Reeves Budget on November 26.


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The chancellor is widely expected to unveil a package of tax rises when she stands up in the Commons as she looks to tackle a shortfall in the government finances that some experts say could reach up to £40bn.


Added to that there are reports that the OBR has given her sharply downgraded forecasts when it comes to the nation’s economic health. Productivity appears to be stuck, borrowing costs are rising.


While Ms Reeves looks to find solutions, it is worth reminding her that Lancashire businesses are still feeling the impact of her last Budget, which saw rises to employers’ National Insurance contributions.


That hike was coupled with an increase in the minimum wage, leaving some businesses facing difficult choices around recruitment, investment and pricing.


Richard Slater chairman richard@lancashirebusinessview.co.uk t: 01254 295584


Ged Henderson editor editor@lancashirebusinessview.co.uk t: 01254 295585


Abbey Coates operations and events director abbey@lancashirebusinessview.co.uk t: 01254 295585


Anna King


senior administrator anna@lancashirebusinessview.co.uk t: 01254 295582


Paula Walsh finance assistant paula@lancashirebusinessview.co.uk t: 01254 297870


As we reported at the time, one of Lancashire’s biggest employers was forecasting the NI hike would take around £500,000 from its bottom line. And, as its managing director said: “it’s simple, if businesses absorb these costs, there is less to invest.”


In recent months Lancashire Business View has reported on a number of business


These include removing the loss of Small Business Rates Relief when a company expands from one commercial property to two, and enhancing support for those who invest in improvements to their premises.


From April 2026 there will also be permanently lower tax rates for retail, hospitality and leisure properties – including shops, pubs, and restaurants. We have been promised further


Lancashire businesses are still feeling the impact


of her last Budget, which saw rises to employers’ National Insurance contributions


setbacks and while not all can be blamed on the chancellor’s decisions, they haven’t made the landscape for firms any easier.


The chancellor may be in a tight spot but a healthy and growing private sector, with small businesses that are looking to grow, is vital if


Joanne Hindley sales director joanne@lancashirebusinessview.co.uk t: 01254 295585


Rob Kelly multimedia journalist rob@lancashirebusinessview.co.uk t: 01254 297870


Farah Cheema marketing lead farrah@lancashirebusinessview.co.uk t: 01254 295587


Adam Varnom graphic designer adam@lancashirebusinessview.co.uk t: 01254 295585


details when Rachel Reeves stands to deliver her Budget.


As we await the detail we echo the comments of the Federation of Small Businesses’ policy chair Tina McKenzie. Like her we are looking for “a big result for small firms”.


Lancashire Business View is written, designed and produced in Lancashire by Northpoint Publishing.


Lancashire Business View and LBV are registered trademarks.


The views expressed by our columnists are not necessarily shared by Lancashire Business View.


Photography: Clive Lawrence, Paul Adams, Liz Henson Photography.


Printers: Peter Scott Printers, Burnley


Northpoint Publishing East Park Lodge, East Park Road, Blackburn BB1 8DW


t: 01254 297870 ISSN: 1757-479X


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