Budget: Employment allowance rise welcomed in tax-raising Statement
In response to Chancellor Rachel Reeves’s Budget statement, 30 October, FSB welcomed the record increase to the employment allowance for small businesses, as well as the protection for small businesses in England from inflationary business rate hikes, following its extensive campaigning. The employment allowance has been more than doubled, from £5,000 to £10,500, which will shield the smallest employers from the employer National Insurance Contributions (NICs) rise. FSB has warned, however, that SME employers with more employees will struggle with the hike in employment costs, including through the changes to employer NICs, at the same time as the Government is planning to introduce a raft of new employment laws. The Budget documents also included plans for a small business strategy command paper. FSB Policy Chair Tina McKenzie said: “Against a tough backdrop, the Budget shows a clear direction in business policy now, for the whole of this Parliament to target support at small businesses, rather than big corporates.”
Analysis: What the Budget means for SMEs
The Federation of Small Businesses has pulled together a list of important need-to-know measures announced in the Autumn Budget that affect SMEs, and what these measures could mean for small business owners.
FSB’s new net zero survey is live!
Small businesses are invited to share their views on how the Government can better its net zero support in FSB’s new net zero survey, which launched this week. The UK has set out strategies for all sectors to meet net zero targets by 2050, and while many small businesses have put in place a plan to cut carbon emissions, others are being held back by the lack of resources and skills. The survey is open until 11 November and only takes a few minutes to complete.
FSB gives evidence on Terrorism Bill
This week, FSB’s policy champion for Home Office and Ministry of Justice Policy, Neil Sharpley, gave evidence to the Public Bill Committee on the Terrorism (Protection of Premises) Bill, which recently passed second reading in the House of Commons. During the session, Neil discussed the importance of small businesses within their local communities, reiterating that measures that help to reduce risk to communities would be welcomed in principle. He also outlined the importance of equipping small businesses with the proper guidance and advice to be able to cope with the implications of the Bill, as well as allowing small firms sufficient time to help understand the practical implications of compliance.
Unlocking the full potential of Wales’s creative small businesses
FSB in Wales published a report outlining a strategy to support SMEs in Wales’s thriving creative sectors. The report, The Power of Creativity, highlights the significant contribution of the creative industries to the Welsh economy, generating employment, driving innovation, and increasing investment in Wales. The report outlines several key recommendations for government, from ensuring that careers advice recognises the creative industries as a key growth sector, improving access to finance for creative industries, supporting the development of microclusters, and ensuring that procurement opportunities are accessible to creative small businesses.
FSB looks ahead to Scottish Government’s Budget
Following the Chancellor’s Autumn Budget, FSB in Scotland has begun outlining its proposals for the Scottish Government’s Budget, which is due to be delivered on 4 December. With 40 per cent business rates relief for the retail, hospitality, and leisure sectors being extended in England, FSB is campaigning for Scottish Ministers to pass on at least some form of comparable relief to small businesses in Scotland. Rates relief for the retail, hospitality, and leisure sectors, which was a lifeline for many small firms, has not been available to SMEs in Scotland since July 2022, something FSB has been discussing as a matter of importance in meetings with Government Ministers and officials.
Work experience for young people should be re-implemented
Careers services and work experience placements could help reduce skills gaps for employers, and give young people a route into long-term employment. FSB is calling for the Government to re-implement work experience while attending the Careers and Enterprise Company’s employer advisory group meeting on the Government’s current skills and education priorities.
Making EU trade simpler
FSB met with business and trade organisations from European countries to discuss the issues and opportunities facing small businesses, as well as share examples of best practice for small business policy. As the EU’s new leadership looks set to increase security and prioritise supply chain resilience, there's a vital need to reduce trade frictions for UK small businesses, particularly those who sell in the Single Market.
International Trade Week
Small business owners can join International Trade Week events, from 11-15 November to help them reach their export potential. Suitable for small businesses at every stage of their exporting journey, events cover a range of topics, from how to find new customers to navigating customs controls.
Noise at work
Updated guidance for small business owners on controlling noise at work was published by the Health and Safety Executive (HSE). It includes an employer’s legal obligations to control risks to workers’ health and safety from noise. Small business owners can also use HSE’s noise exposure calculator, to check that employees are operating in a safe environment.
Unlocking the skills of Hong Kongers living in the UK
British Future, the UK-based think tank and charity, is inviting people to sign up for a webinar: Unlocking Skills: Hong Kongers & other Humanitarian Migrants for UK Economy on 11 November at 1pm. The webinar will examine some of the key findings from the recent report Working it out: Hong Kongers, employment and the cost of living, such as the number of Hong Kongers with the right to work in the UK who are not employed in a role that properly utilises their skills – contributing to the overall skills shortages seen in the UK jobs market, and how this issue can be tackled.
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