Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

General Election 2024 – small business policies you need to know about

As the General Election 2024 approaches, the political landscape in the UK is heating up. With each party vying for the votes of the public, it’s important for small business owners to pay attention to the policies being proposed. After all, small businesses are the backbone of the UK economy, and their success is crucial for the overall growth and prosperity of the country.

So, what are the parties pledging when it comes to small businesses? Let’s take a closer look at the policies that could potentially affect small business owners in the UK.

The Conservative Party, led by Prime Minister Boris Johnson, has promised to continue their support for small businesses. They plan to cut business rates for small retailers, pubs, and cinemas, which will provide much-needed relief for struggling businesses. They also plan to introduce a new tax relief for businesses investing in new equipment, which will encourage growth and innovation.

The Labour Party, led by Keir Starmer, has pledged to increase the minimum wage to £10 per hour for all workers, including those under the age of 18. This could potentially benefit small businesses by increasing the spending power of their employees. They also plan to introduce a new tax on large corporations to fund public services, which could potentially level the playing field for small businesses competing with big corporations.

The Liberal Democrats, led by Ed Davey, have promised to create a new ‘start-up allowance’ for entrepreneurs, which will provide financial support for those starting a new business. They also plan to introduce a new ‘skills wallet’ for every adult, which will give them access to funding for training and education. This could potentially benefit small businesses by providing them with a more skilled and qualified workforce.

The Green Party, led by Caroline Lucas, has pledged to introduce a universal basic income for all citizens, which could potentially benefit small businesses by increasing consumer spending. They also plan to introduce a ‘Robin Hood Tax’ on financial transactions, which will provide additional revenue for public services. However, this could potentially have a negative impact on small businesses that rely on financial services.

The Scottish National Party (SNP), led by Nicola Sturgeon, has promised to increase the employment allowance for small businesses, which will reduce the cost of hiring new employees. They also plan to introduce a new ‘Scottish Business Development Bank’ to provide financial support for small businesses. This could potentially benefit small businesses in Scotland by providing them with easier access to funding.

It’s clear that each party has their own vision for the future of small businesses in the UK. But what do these policies mean for small business owners? It’s important to carefully consider each party’s proposals and how they could potentially impact your business.

One thing is for sure, the General Election 2024 will have a significant impact on the small business landscape in the UK. As a small business owner, it’s important to stay informed and make your voice heard by voting for the party that aligns with your values and priorities.

In addition to the policies proposed by the different parties, there are also other factors that small business owners should keep in mind. For example, Brexit and its potential impact on trade and regulations could have a significant effect on small businesses. It’s important for small business owners to stay updated on the latest developments and plan accordingly.

Despite the uncertainty and challenges that lie ahead, it’s important for small business owners to remain positive and resilient. Small businesses have always been the driving force behind the UK economy, and with the right support and policies in place, they will continue to thrive and contribute to the growth and prosperity of the country.

In conclusion, the General Election 2024 will have a significant impact on small businesses in the UK. Each party has their own vision and policies for supporting small businesses, and it’s important for small business owners to carefully consider these proposals and make an informed decision when casting their vote. But no matter the outcome, small businesses will continue to play a crucial role in the UK economy, and with determination and perseverance, they will overcome any challenges that come their way. So, let’s stay positive and keep supporting our small businesses – they are the heart and soul of our country.

More news