In Focus Commercial Credit
Looking forward with positivity
Analysts believe that the new majority government brings hope of stability to small firms
Mike Cherry National chairman, Federation of Small Businesses
The Conservative Party has won a clear majority of seats in the House of Commons. During the election campaign, it committed to helping small firms by: l Ending the late-payment crisis by introducing a reform package put on pause by the election. l Helping small firms with spiralling labour costs and expected Living Wage rises by increasing the Employment Allowance. l Extending and expanding existing business rates discounts, while launching a review aimed at reducing the financial burden of rates. l Launching a self-employment review to help those struggling to access pensions and mortgages. l Improving infrastructure, with an ambition to deliver full-fibre, gigabit broadband and investing £2bn to fill in potholes that blight our local road network.
Hopes Small-business owners will be hoping that the election’s clear result helps to bring stability back to the economy. After more than three years of Brexit
absorbing government bandwidth, the Conservative Party has pledged to tackle the many domestic challenges that have been neglected during that time.
Positive change As I write this, in the coming days we will see a Queen’s Speech and steps towards leaving the EU next month.
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After more than three years of Brexit absorbing government bandwidth, the Conservative Party has pledged to tackle the many domestic challenges that have been neglected during that time
Amid this, small businesses the length
and breadth of the UK will be looking to the new government to achieve positive change for small firms in its first 100 days, not least with publication of a pro-business Budget in early February.
www.CCRMagazine.com
Confidence The restoration of small-business confidence and trust in politics rests on seeing the Conservatives’ pledges to us swiftly enshrined in a programme for government. It is now time to turn kind words on
bread-and-butter issues facing the small business community into tangible action.
Business-friendly Brexit This government needs to deliver a business- friendly Brexit. That means one that protects the three t’s: trade, talent, and a proper transition. The third of those is absolutely critical.
We have to avoid a scenario where we suddenly crash out of the EU with no time for small firms to prepare for what’s coming next. CCR
January 2020
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