Small businesses are the backbone of the British economy, the Forum of Private Business, has said. It has called upon the Government to pay more attention to improving the small business climate in the next year. This sector of the economy employs over 12 million people, which is 58% of the private sector workforce, and needs the Government to take steps to ease certain areas of concern: National Insurance Contributions, complexity of tax rules, deferred increases in fuel duty, level of business rate tax and the stamp duty land tax. The FPB has said that action must be taken if the Government wants the support of small businesses for upcoming General Election.
Our view:
There is much to be said of this. Napolean called us a "Nation of shopkeepers" yet he and many others have failed against this entrepreneurial mix of Angles, Celts and Scots. Instead of killing small business with Euro red tape, this Government needs to do more. If the small business in the UK fails, there will be no businesses to grow to become big UK and Worldwide businesses.