Government urged to commit to small firm support
Fri, 30 Oct 2009
Support for small businesses must not be sacrificed if and when the government embarks on spending cuts, it has been claimed.
With net borrowing set to reach £185 billion by the end of 2009, the Forum of Private Business (FPB) says substantial cutbacks are needed to plug the gap in public finances.
In view of this, it has submitted its proposals for "responsible growth" ahead of the Chancellor's Pre-Budget Report, which is expected to take place in November.
The FPB is calling for improvements to existing support schemes, reductions in small firms' corporation tax bills, incentives for micro-businesses recruiting staff and a comprehensive regulatory review.
Matt Goodman, the FPB's policy representative, said despite recent suggestions that the economy is heading out of the woods, it is clear there is still a difficult road ahead.
He added: "Government cuts should not include those programmes that are making a real difference for struggling firms.
"The next 18 months will be crucial. As the main drivers of growth, small businesses need to be placed at the heart of plans for economic recovery so they can make the most of future opportunities."
Last week, the Office for National Statistics confirmed that the UK remains in recession for the sixth consecutive quarter.
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