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The Forum of Private Business (FPB) is concerned that the 2009 Budget has failed to address the main issues threatening the UK's struggling small businesses. Proposals to improve access to finance, ease the burden of costs and stimulate economic activity were absent from the announcement, it insists. In addition, although the Government has unveiled a new £1.7 billion job creation fund, the Forum believes nothing has been done to help smaller employers hold on to their key staff.
"We are experiencing the worst economic conditions that most business owners have ever seen. We needed a bold strategy for business recovery, which the Chancellor has failed to deliver at all levels," said Noel Guilford, the FPB's National Chairman. "The FPB made numerous and significant proposals which would have had the effect of providing immediate help to struggling businesses, nearly all of which appear to have been ignored."
In its latest quarterly Referendum survey, members of the FPB voted for restoring business confidence (65%) and restoring consumer confidence (63%) as the two issues they most wanted the Government to prioritise in the Budget in order to support their businesses. The FPB addressed four key elements in its submission to the Government: Improving access to finance for small businesses, minimising the cost burdens of small businesses, protecting employment, and improving economic activity.
The FPB's Chief Executive, Phil Orford, commented: "Although the long-term unemployed will benefit from investment in job creation and training from 2010, nothing has been done to help businesses retain their existing skilled workforce, which continues to be decimated as a result of the recession.
"While welcoming changes to capital allowances and loss relief, the reality is that these will have only provided limited benefit to smaller businesses. In addition, restrictions to the new credit insurance scheme and the failure to address business taxes remain considerable barriers to business survival and growth."
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