Cost Of Doing Business Crisis
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05 Nov 2013
Small independent businesses in the Rother Valley are struggling. Local people keep them going because they know they form a vital part of our high streets and our communities. However, small businesses are facing their own version of the cost of living crisis, a cost of doing business crisis.
Shops and small businesses across the country are due to see their business rates increase by an average of £430 from next April, at a total cost to businesses of £700 million.
Small business owners face a stark choice: either pass these business rate increases on to their customers or face a further squeeze until they can no longer afford to stay in business.
Families and small businesses need help to see them through these tough times. That’s why I would like to see a cut in business rates for small and medium businesses in 2015 and a freeze on them in 2016. This move would mean an average saving of nearly £450 for 1.5 million business properties and would be paid for by not going ahead with the Government’s plans for an additional Corporation Tax cut for just 80,000 large companies.
Most of the jobs in the future will be created by a large number of small businesses which is why they need our support; so they can lead the economic recovery both locally and nationally.