As the 2014 Budget looms closer, the Federation of Small Businesses (FSB) has urged the Government to maintain its focus on enterprise and encouraging small business growth.
According to the organisation, small businesses are increasingly seeking to expand, and the FSB is calling on the Chancellor to support firms in their aspirations.
In its 2014 Budget submission, the FSB calls for the completion of reforms in the banking and energy markets, more targeted Government support for small firms, and reform of the tax system in a bid to support enterprise.
While welcoming the new national insurance Employment Allowance, the FSB warns that any future changes to the National Minimum Wage must reflect economic conditions.
The business group has also called on the Government to boost Community Development Finance Institutions, with the aim of increasing the availability of finance to small firms unable to access finance via the banks.
John Allan, National Chairman of the FSB, said, ‘With the recovery underway it is important that businesses begin to feel the measures already announced are having a positive effect on their business. This is why the Chancellor should look at ‘focus and delivery’ for initiatives already announced to create long-term growth’.
‘The focus now needs to be on addressing fundamental structural issues. Getting more competition and transparency in key sectors such as energy and financial services will greatly help small firms.’
The Budget will be presented on Wednesday 19 March.
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