Small businesses “face an uphill battle to make ends meet”

The business group said it wants to see a guarantee that minimum wage increases will not exceed inflation, commitment to fundamental reform of business rates and a review of fuel duty.

Phil Orford MBE, chief exec of the FPB, said: “The Chancellor has admitted that a recovery based on consumer spending is unsustainable and that encouraging businesses to invest and export will be key to ensuring a long-lasting sustainable recovery.

“The Chancellor must not forget that small firms as well as households continue to face an uphill battle to make ends meet.

“What our members want to see on March 19th is a Budget that takes decisive action to reduce rising business costs, cut red tape to improve confidence, make it simpler and more profitable to run a small business and encourage the investment essential for a sustainable recovery.”

The FPB also called for an export credit scheme which would offer tax relief to businesses which grow through exports.

Orford added: “UKTI and UKEF are providing innovative and helpful solutions to get more businesses exporting which is a key element needed to ensure a sustainable recovery. 

“We have proposed a new, end point incentive that will see companies’ tax bills reduce if they focus more of their growth on exporting. Getting Britain trading more overseas is the key to a genuine recovery.”

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