Small businesses need more support in the next budget, federation argues

The UK’s small and medium businesses require more support from the Government and believe that the Chancellor, George Osborne, should strengthen the small business community by continuing to back growing firms, stimulate economic growth and reduce the overall deficit.

Recent research carried out by the small businesses’ representative body (The Federation of Small Businesses – FSB) found that positivity among small firms was at a genuine high with record levels of revenue, prolific investment intentions and increased employment all reported.

Productivity among the small business community grew by 1.4 per cent year-on-year in Q4 2014, at a period when UK productivity as a whole only grew by just 0.3 per cent.

John Allan, national chairman, FSB, said: “The UK’s small businesses are reporting record high levels of confidence.

“Unemployment is continuing to drop, UK wage growth is at a four-year high and there are encouraging indications that productivity is finally on the rise.

“The Budget is an early opportunity to provide a boost to the increasing positive sentiment, and for the Chancellor to demonstrate his pro-enterprise credentials by again backing small business to deliver the growth and jobs the economy needs.

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