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Small businesses at ‘breaking point’ ahead of Spring Statement

Summary by City AM

Small businesses are at “breaking point” just days ahead of Rachel Reeves‘ Spring Statement, an insurance boss has warned. Almost one in five small business owners have said they will be forced out of business within a year due to bleak economic conditions, according to data from Simply Business. As many fear the increasing costs will push them out of business, Simply Business’ chief executive Julie Fisher warned the impact on the economy would…

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Talented Ladies Club

Why female founders will be £34k worse off after the Spring Statement - Talented Ladies Club

Find out why female founders will be disproportionately impacted – to the tune of £34k – by the Spring Statement, and what you can do. With UK businesses paying more National Insurance for each employee they hire from 1 April, growing a team becomes less viable without significant funding. Financial backing is statistically much easier to get if you’re a man. Only 2% of VC funding goes to all-female founding teams. Women face discrimination and …

8 days ago

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Small Business

Spring Statement 2025 and what’s in it for small businesses – live blog - Small Business UK

By Anna Jordan on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs Today is Spring Forecast, usually known as Spring Statement, day. As we’ve established, there’s not likely to be much for small businesses, especially after the tax hikes seen in last year’s Autumn Budget. That’s on top of the 6.7 per cent National Living Wage increase (for those over 21) which will be introduced on April 1. In fact, as the Treasury keeps str…

8 days ago

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CLH News: Caterer, Licensee and Hotelier News

Reduced Profitability Leads To Small Business Closures As Spring Statement Looms - CLH News: Caterer, Licensee and Hotelier News - News for Pubs, Bars, Hotels and Restaurants

Share Post Share Email The latest insight from The Global Payroll Association (GPA), reveals that the number of active small businesses in the UK has fallen in the past year as reductions in profitability make it harder to remain profitable and, therefore, operational. The government’s Autumn Statement in October 2024 introduced increases to the National Living Wage and Employer National Insurance Contributions…

8 days ago

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Cambridgeshire Chambers of Commerce

Spring Statement Must Offer Olive Branch To Business - Cambridgeshire Chambers of Commerce

Speaking ahead of Wednesday’s Spring Statement, Shevaun Haviland, Director General of the British Chambers of Commerce, said: “Businesses are feeling battered and bruised by the heavy cost pressures looming within days. The Chancellor must use her Spring Statement to offer some respite. “From next week, firms face an unpalatable menu of higher national insurance (NI) and minimum wage bills, coupled with the impact of further US tariffs. Th…

9 days ago

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thefinancialanalyst.net

SMEs Brace for Spring Statement, Plan Price Hikes Amid Rising Costs

Small and medium-sized businesses (SMEs) in the UK are navigating a challenging landscape as they prepare for the Spring Statement, with rising employment costs and tax hikes topping their list of concerns. According to recent research from Grant Thornton, a significant majority of SMEs are planning to pass on these increased costs to consumers, with 71% of businesses intending to do so… Source

9 days ago

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