Against the backdrop of one of the most turbulent and challenging periods for UK businesses, many looked to last week’s Spring Statement in the hopes that the Government would announce pro-active measures that would help firms grapple with rising costs, National Insurance and tax hikes, skills shortages, soaring energy and fuel prices, and ongoing supply chain disruption. Ed Rimmer tells Leasing Life magazine why now is the time for the alternative finance industry to really step up and provide headroom for growth:
Those immediate measures introduced, including fuel duty cuts, an increase to the National Insurance threshold and the longer-term aim to cut the basic rate of income tax, will go some way to bridge the gap for consumers as bills rise. Whilst they come as welcome measures that give the population some form of relief, they fail to tackle the root of the issue and put in place a long-term solution to re-grow our economy. UK SMEs need to be at the centre of that support.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.