FSB responds to Labour Party’s small business plans

Press Releases 7 Jun 2024

Focus on tackling late payment is especially welcome

Responding to Labour’s plan for small business, Tina McKenzie, Policy Chair at the Federation of Small Businesses (FSB), said:

“It is good to see late payment addressed by Labour today – all eyes will be now turn towards its manifesto launch to see if the party takes a pro-small business approach.

“We are especially pleased to see Labour state that it would pass new laws to help small businesses, including requiring the audit committees of big businesses to report on their company’s payment practices. This is something we have worked closely with the Opposition on, and is a clear commitment that addresses one of the biggest problems facing small businesses.

“All eyes will now be on the publication of Labour’s manifesto to see whether the party takes a pro-small business approach and gets the detail of these policies right.

“Our snap election poll shows that the majority of the UK’s 5.5 million small business votes are up for grabs. One in five have yet to decide which party they will choose, while a further one in three have a good idea who they will vote for but could still change their mind.

“As the election gets into its final stage, it’s crucial political parties reassure small businesses on tax, on protecting small business apprenticeships, and on having the right legislative environment to support growth.”


Notes to editors

  1. FSB’s election survey received 1,341 responses from small business owners across the UK. It was conducted by Verve between 28 May and 3 June 2024.
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About FSB
FSB is a non-profit, non-party-political organisation that offers its members a wide range of vital business services, including advice, financial expertise, support and a powerful voice heard in governments. Founded in 1974, FSB celebrates its 50th anniversary in 2024. More information is available at www.fsb.org.uk. You can follow us on X (formerly known as Twitter): @fsb_policy and on LinkedIn: FSB Westminster.