Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Tax incentives and finance access top SMEs’ priorities ahead of autumn budget

by September 19, 2024
September 19, 2024
Tax incentives and finance access top SMEs’ priorities ahead of autumn budget

As the autumn budget looms, tax incentives and improved access to finance have emerged as key demands from UK SMEs, according to new research from Bibby Financial Services (BFS).

The latest SME Confidence Tracker reveals that while business optimism has rebounded post-election, small business leaders are calling on the government to address critical financial barriers to unlock growth.

The survey of 1,000 SMEs found that 68% expect sales to increase over the next six months, a 7% rise since March 2024. With stabilising inflation and lower interest rates, 63% of SME leaders now feel more confident about making capital investments, while 52% are more likely to pursue major investments following the General Election.

However, concerns persist about the potential for tax hikes in the upcoming budget, with 87% of respondents calling for better tax incentives, and 81% advocating for access to low-interest financing to support expansion and job creation.

Derek Ryan, UK Managing Director of BFS, urged the government to honour its commitment to small businesses, saying: “SMEs are finally feeling confident enough to invest, but the Prime Minister’s warning of a ‘painful’ budget risks undermining this. Supporting SMEs must remain central to the government’s economic growth plan.”

Access to finance remains a significant challenge, with 49% of SMEs describing the finance landscape as complex, and 80% seeking better educational resources for navigating funding options. While commercial finance approvals have risen, many SMEs still find the process daunting, with only 18% having utilised the Bank Referral Scheme.

The Labour Party’s proposals to improve SME financing through reforms to the British Business Bank and the Bank Referral Scheme are seen as promising, but experts like Sandeep Dhillon, CEO of SME marketplace Talmix, stress the need for immediate clarity on tax policies and financial support, particularly for the tech sector, where investment has waned.

Read more:
Tax incentives and finance access top SMEs’ priorities ahead of autumn budget

0
FacebookTwitterGoogle +Pinterest
previous post
John Kirby denies US involvement in Lebanon device attacks: ‘We want to see the war end’
next post
‘I’ve never seen this’: Top Republican details level of Secret Service ‘lack of cooperation’

You may also like

To be culturally relevant, you need to be...

May 3, 2024

3 tips for choosing a quality excavator parts...

February 16, 2024

UK set to re-join Horizon science scheme

September 7, 2023

Getting to Know You: Marcia Tiago, Founder of...

March 10, 2023

Lords will delay Rishi Sunak’s bonfire of EU...

January 3, 2023

Cyber skills gap leaves business vulnerable to attacks,...

October 3, 2023

Durham medical supplier clinches multi-million pound funding boost

February 7, 2025

Experience the power of Tineco UK and start...

September 22, 2023

Different Ways You Can Cut Printing Costs For...

October 23, 2023

How Biometrics Can Enhance Identity and Security

September 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout

      June 7, 2025
    • Deadly drone wars are already here and the US is horribly unprepared

      June 7, 2025
    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

      June 7, 2025
    • FLASHBACK: Musk accused Trump, GOP leaders of not wanting to cut spending — here’s where they said they would

      June 7, 2025
    • ‘Right down the line’: Medicaid reform in ‘big, beautiful bill’ divides lawmakers by party

      June 7, 2025
    • FAST distribution and IA

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,562)
    • Stocks (3,135)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved