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Call for more business support in the New Year
The Federation of Small Businesses (FSB) is calling on the Government to give small firms some ‘breathing space’ during the early part of 2011.
It claims that the recent prolonged spells of cold weather and January’s VAT rise could put small firms under considerable pressure in the New Year.
‘The last thing this Government needs is a wave of bankruptcies and shop closures in 2011, but small firms will find it very difficult to bounce back in the New Year when VAT increases to 20% and the spending cuts start to bite,’ said FSB National Chairman, John Walker.
‘We need to see a co-ordinated effort from Government, banks, local authorities and landlords to give small businesses some breathing space to recover in the New Year.’
To support small firms through what could be a challenging time, the lobby group recommends that:
· HMRC extends its Time to Pay scheme to allow small businesses time to recoup lost takings
· Landlords, especially where the landlord is the local council, should push back rent reviews due in the New Year
· Local Councils should use their powers to grant hardship relief and temporarily reduce business rate bills for those businesses in financial difficulty
· Banks, utilities and insurers should give small businesses some breathing space.
We can help you plan for a more prosperous New Year – please contact us for advice.