Purpose Media director calls for support for SMEs in 2018 Budget
Added by Love Business East Midlands | 29 October 2018
UPDATED: 29 October 2018
A director from creative agency Purpose Media is calling on Chancellor of the Exchequer Philip Hammond to deliver measures to help boost growth and job creation for small and medium-sized businesses in his 2018 Budget speech.
Katrina Starkie, the Derbyshire marketing firm’s Marketing Director, is hoping that Mr Hammond will recognise the important role that SMEs play in the growth of the economy and introduce initiatives which incentivise investment and boost their productivity and competitiveness.
Purpose Media’s 2018 Budget wishlist includes a commitment from Government to introduce no new taxes or costs for the remainder of this Parliament, to give businesses breathing space to adjust to life after Brexit.
She would also like to see measures introduced to minimise the impact of the HMRC’s planned rollout of Making Tax Digital, a major change to the way tax is collected, which will place disproportionate additional compliance and administration burdens on smaller businesses.
Any incentives which promote innovation with new and emerging digital technologies – such as 5G mobile and the Internet of Things – would also be welcome.
Katrina said: “Small firms such as ours make up the backbone of the UK’s economy, so we always watch the Budget with nervous interest to see if it contains anything which could make the day-to-day running of things harder.
“All the political focus seems to be on Brexit at present and while this is of huge importance, the Chancellor needs to remember that the domestic economy is vital to many smaller businesses, which still need support to ensure they can deliver the jobs and growth the country needs.
“Anything the Chancellor can do to ease the burden on small businesses and improve trading conditions will be welcome. With some big initiatives on the horizon, such as Making Tax Digital and the uprating of Business Rates in 2021, the Government has a duty to minimise their impact and show some clear support for the firms which make up the bulk of our economy, to help them succeed and prosper.
“As a business that uses technology and marketing to help our clients grow, anything that can be done to encourage innovation in these areas would also be most welcome.
“It’s the UK’s SMEs that need support in such uncertain times, with a messy Brexit an ever-more distinct possibility. Government should be spending more time talking to businesses like ours through forums like the Chamber of Commerce before making statements that do not reflect our real-world experiences.”
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