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:
- Ending the late payment crisis by introducing a reform package put on pause by the election.
- Helping small firms with spiralling labour costs and expected Living Wage rises by increasing the Employment Allowance.
- Extending and expanding existing business rates discounts, while launching a review aimed at reducing the financial burden of rates.
- Launching a self-employment review to help those struggling to access pensions and mortgages.
- Improving infrastructure, with an ambition to deliver full-fibre, gigabit broadband and investing £2 billion to fill in potholes that blight our local road network.
Federation of Small Businesses (FSB) National Chairman Mike Cherry said:
“Small business owners will be hoping that today’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.
“In the coming days we will see a Queen’s Speech and steps towards leaving the EU next month. 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.
“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’s now time to turn kind words on bread and butter issues facing the small business community into tangible action.
“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.”
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About FSB
As the UK’s largest business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed.
FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.