With Labour winning the General Election in a landslide, the UK’s small businesses and self-employed are hoping for better support from our new government.
In the lead-up to the General Election (GE), Labour did discuss its plans to help the UK’s small businesses, focusing particularly on late payment, including requiring the audit committees of big businesses to report on their company’s payment practices.
Commenting on the GE results, Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said, “Congratulations to the new Prime Minister and Government on their decisive election victory, and congratulations to the newly elected MPs from all parties.
“The clear result of the General Election gives hope that political stability can lead to economic stability and recovery.
“There’s a golden chance in the first 100 days of this new administration to plant the seeds of small business growth, and there are a range of policies FSB hopes the new Government will bring forward.”
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Tina added, “These include measures to ease the cost of doing business and support investment and expansion. From tackling poor payment practices by big businesses to their smaller suppliers to reforming the not-fit-for-purpose business rates system.
“The upcoming King’s Speech should include a Small Business Bill to enshrine in legislation much-needed changes to better support small firms and the self-employed.
“Supporting and growing small businesses is good for jobs, good for communities in all parts of the country, and good for the whole economy.
“We’re looking forward to getting down to business and working in partnership with the new Government ministers and their teams – building on how we’ve engaged constructively with them in Opposition. This will ensure that the small business voice is heard clearly and the right actions can be taken to support existing entrepreneurs and encourage new ones.”
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