Home Business News ‘No rabbits under the Chancellor’s hat today’ in what was a ‘frustrating Budget for SMEs’

‘No rabbits under the Chancellor’s hat today’ in what was a ‘frustrating Budget for SMEs’

6th Mar 24 1:43 pm

No rabbits under the Chancellor’s hat today, in what was a frustrating Budget for leaders of small and medium sized businesses.

Whilst it is right that the Government focuses on initiatives that will help individuals and household budgets during the current cost of living crisis, the Chancellor has provided little support for SMEs by way of meaningful tax cuts and investment for growth.

A survey we conducted of 540 SME business leaders found that what they want most from the Government is tax incentives and relief measures, followed by funding for skills and workforce development, and support for technological adoption and digitisation.

The Government has made it clear that getting people back into work is a priority, and we are geared up to work with the Government to revolutionise the employment journey for job seekers and employers, alleviating the dependency on benefits by fostering sustainable employment pathways.

We would have liked to have seen an expansion of the Government’s back to work programme to enable more of the 1.32 million people currently unemployed into work.

Our employment app, Swag, will support a reduction in the unemployed and the 9.28 million people economically inactive, by channelling job seekers directly to SMEs in key sectors like hospitality, retail, construction and care, as well as helping individuals with health conditions looking for work-from-home opportunities.

Whilst there are green shoots in the economy with inflation coming down and a short recession all but over, business leaders need to remain resilient and prepared for change and disruption, as we edge closer to a general election and a potentially new Government in charge

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