Small firms 'must be in pre-Budget report'
Nov 18 2008
The pre-Budget report must give companies 'innovative and short-term' solutions for finance such as a £1 billion small business survival fund, an organisation has warned.
According to the Federation of Small Businesses (FSB), a fund should be created which would replace the small firms loan guarantee and get money directly to businesses, a move the organisation says is 'urgently needed'.
The FSB also says it is crucial that the government scraps the proposed increases in corporate tax in the report, which is due out on November 24th.
John Wright, national chairman of the organisation, says that the government should 'act immediately' to reduce the burden of tax on these businesses, as they need 'talk, not action'.
He states: 'The government must do everything it can to ensure small firms do not need to turn to alternative and expensive sources of finance.'
A recent survey from the organisation of 8,700 members found banks are one of the biggest barriers to growth, as they are not lending money.
According to the Federation of Small Businesses (FSB), a fund should be created which would replace the small firms loan guarantee and get money directly to businesses, a move the organisation says is 'urgently needed'.
The FSB also says it is crucial that the government scraps the proposed increases in corporate tax in the report, which is due out on November 24th.
John Wright, national chairman of the organisation, says that the government should 'act immediately' to reduce the burden of tax on these businesses, as they need 'talk, not action'.
He states: 'The government must do everything it can to ensure small firms do not need to turn to alternative and expensive sources of finance.'
A recent survey from the organisation of 8,700 members found banks are one of the biggest barriers to growth, as they are not lending money.