Gloucestershire businesses prepare for spring statement
Business experts in the county say there needs to be more protection for small businesses.
The Government are set to announce their Spring Statement later today.
The statement will update parliament and the nation on the economy and public finances.
In the Autumn budget we saw a number of announcements including new rules on inheritance tax for farmers and a rise in national insurance for employers.
The rise in National Insurance for employers saw concerns raised by local businesses who have said they may need to raise their prices for customers to help keep financial stability.
Business experts in Gloucestershire have spoken out and said that small local businesses need more protections again rises to help with growth.
The director of the Gloucestershire branch of Business West told Greatest Hits Radio “My concern is companies that want to grow, and those are generally small and medium sized companies, they need to take on people but they’re going to be greatly disadvantaged by the increase in national insurance.
“That’s where growth lies, it doesn’t lie in large companies, it lies in small companies, SMES, who are micros.
“A micro is 0-9 people and they’re the people who need support, that’s where the growth is.”