Govt NICs cut should help small firms stay competitive

Wednesday 27 March 2013

The Federation of Small Businesses (FSB) believes the chancellor's decision to create an employer's allowance for National Insurance Contributions (NICs) will help growing companies.

George Osborne announced last week that small companies will not have to pay NICs under £2,000, which will help them save finance and compete more effectively with larger rivals.

Through organisational growth, the FSB believes small companies will be able to create thousands of new jobs in the private sector and get the economy moving.

John Walker, national chairman of the FSB, said the federation had asked for 'a budget for small businesses' and this is what has been delivered.

"The chancellor has pulled out all the stops with a wide-ranging package of measures to support small firms," he noted.

Mr Walker said the NICs cut "goes beyond what we were asking for", and should make a real difference to small companies targeting growth on a limited budget.

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Posted by Steve Williams