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  • Writer's pictureLMS

UK’s New Prime Minister – Impact on Future of Small Business

Currently the hot topic of discussion in the political scenario is – Who will be the next Prime Minister of Britain?

And rightly so. But does the question stop just there?

No! There are many more questions ….

And whoever gets to live at 10 Downing Street a couple of months from now will have to answer those questions with immediate effect.

The rising level of Inflation, Cost-of-living crisis, unbelievably high energy prices, hard hit supply chains, NHS and all this on the backdrop of the Ukraine – Russia war

Will the circumstances for small businesses change for the better or worse?

In the current Governments Spring Statement of 2022 for Business, they had announced further measures to boost & level up the business for better growth & productivity.

Some of the highlights of the statements are as below:

  • Cutting fuel duty on petrol and diesel by 5p per litre for 12 months

  • Increasing the Employment Allowance from £4,000 to £5,000

  • Bringing forward an exemption on business rates for green technology

  • Reforming R&D tax credits to help drive innovation

  • Planning to encourage greater business investment

Now the above measures are in addition to the existing business support package the details of which can be found here.

So, based on these what are your thoughts on the current political scenario & it’s impact on the future of small businesses?

Who do you think is best placed to take up the PM’s job & deliver on the promises and improve the situation of small businesses & SME’s?

Your views are what matter to Us.

So, do send in your feedback by commenting below to give your take on the current & future scenario for SME’s and how it will change Your Future.


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