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Lower taxes, cheaper energy and rate cuts urged for small businesses

A poll of 2,000 UK adults found overwhelming support for small businesses last month, with low business rates, slashing energy bills and reducing corporation tax top priorities.
Budget changes both eased and intensified pressures on small businesses as respondents blamed online marketplaces, the cost-of-living crisis and high business rates, while last month’s Budget cut some business rates but raised dividend tax by two per cent.
More than three quarters want more local small businesses, with bakeries top of the list at 53 per cent, while Londoners shop small most at Christmas .
The research signals public pressure on government and local councils to act as Jon Walker, CEO of AXA Commercial, said `It's great to see there is so much public support for small businesses and to know people are keen to help them through tough economic times`.
Given their economic role, respondents point to regulatory and tax fixes since small businesses make up more than 99 per cent of UK businesses, urging reducing red tape and simplifying the tax code.

Insights by Ground AI