SMEs hoping for government help in Autumn Statement

(2 minutes to read)

FSB: ‘The Chancellor and Prime Minister must include measures to kickstart the economy, and get it growing again, to stem the loss of small businesses, and give them an operating environment that will allow them to get through a tough winter, and then flourish in the spring’.

With the upcoming Autumn Statement, the UK’s smaller sized businesses are urging the government to provide help as trading conditions remain challenging for SMEs.

Responding to the latest ONS figures that show a 0.2% drop in GDP in Q3 2022, National Chair of the Federation of Small Businesses (FSB), Martin McTague, said, “Confirmation of a shrinking economy is dreadful news for small businesses that have been facing increasing recessionary pressures for months now.

“Lower levels of reserves and resources mean they are more vulnerable to downturns, and at a time when confidence is deteriorating in both consumers and businesses, the outlook for the UK economy is now very bleak indeed.

“Coming out of pandemic-era lockdowns, this was supposed to be the period when the economic recovery would start to motor, with the small business community leading the way. Following the global financial crisis, nine out of ten people moving back into employment did so through working for a small business, or setting themselves up as one by starting their self-employed career.”

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Email Jaime

McTague added, “But with a contraction of the small business community of nearly half a million small firms over 2020 and 2021, the strong indications that we are in recession could lead to many further losses, with established outfits sadly having to shut up shop, and entrepreneurs’ good ideas staying on the drawing board.

“Fewer small businesses and start-ups means lower growth, lower employment, and lost tax revenues for the Government – a vicious circle of decline that must be averted, rather than managed.

“Without growth measures, Thursday’s Autumn Statement could be about balancing the Government’s books on the backs of small businesses – an approach that will simply not work, with so many already teetering on the edge.

“The Chancellor and Prime Minister must include measures to kickstart the economy, and get it growing again, to stem the loss of small businesses, and give them an operating environment that will allow them to get through a tough winter, and then flourish in the spring.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

You may also like to read

Autumn Statement shows government making it harder for self-employed, says IPSE

With the disaster of the Mini-Budget just a couple of months ago, yesterday’s Autumn Statement had to be one that ...

Read More

Budget lacking in wealth-creation for SMEs

Many of the UK’s smaller sized businesses feel that the Autumn Statement is high on stealth-creation and low on wealth-creation, ...

Read More

Still more needed to help SMEs through the pandemic

Although the Chancellor’s Budget has offered continued support for the self-employed, more help is needed for those who will still ...

Read More

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

dav1