What does the Mini Budget really mean for small businesses?

With a raft of tax cuts and policy reforms announced in the Chancellor’s Mini Budget, we caught up with Time Finance’s CEO, Ed Rimmer, to get his thoughts on the new measures announced and what they really mean for small businesses.

SMEs account for 99.9% of the UK economy, but they were not at the forefront of the Chancellor’s Mini Budget. Scrapping the planned rise to Corporation Tax and reversing the rise to NI is welcome news for all businesses, as are the measures to curb energy bills, but these tax cuts will disproportionately benefit those that are less in need. Where are the measures to support small businesses in making investments for their growth in terms of skills and research and development? SMEs are the backbone of a healthy economy and yet there is little to support them aside from reduced energy costs, marginal tax cuts and a promise of a simplified tax system.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

The true cost of stress in small businesses

Late nights in the office or working overtime at the weekend isn’t unfamiliar territory for many business owners. In the early years of trading many SME entrepreneurs find their work-life balance a little skewed as they

Time Finance plc

Cash flow forecasting best practices for 2024:

No matter what sector you work in, cash flow shortages can cause plenty of stress.  Whether that’s issues paying suppliers, looming overheads, or trying to retain savings, cash flow management can help. The outlook for the current

Time Finance plc

Empowering women in finance: Insights from Time Finance

This International Women’s Day we sat down with the incredible women making a difference across Time Finance, who share their experience of working in an industry perceived to be male dominated, and how they have inspired

Time Finance plc

Time Finance notable Profit Surge and Promising Future

Time Finance shines with a notable profit surge and insider buying, indicating robust growth and financial health. A deep dive into its promising future. As investors constantly seek out companies with strong growth prospects and financial

Time Finance plc

Empowering SMEs for economic strength and growth

As the Government rolls out its Help to Grow campaign, designed to boost small businesses across the UK, our Chief Executive, Ed Rimmer, explores the measures that will help the business community and shares his thoughts on