Business and Trade Secretary opens new FSB offices
Secretary of State for Business and Trade Kemi Badenoch demonstrated her commitment to SMEs by officially opening the new FSB offices at 10 Dean Farrar Street, in the heart of Westminster, on 21 September. Giving credit to FSB, the Secretary of State said: “I really enjoy the particular insights that FSB brings into Government. Many of the other groups and business representative organisations talk about the big players, but FSB is really where it's at.”
Inflation falls and interest rates hold
Small firms were given some relief this week as inflation fell marginally in the August figures, released on Wednesday, while the Bank of England held the base rate at 5.25% rather than increasing it, in a 5-4 vote on Thursday. FSB Chair Martin McTague said: “Small firms need some respite, and now will look to the Autumn Statement for signs from the Government that it’s listening and understands their concerns.”
Shadow Small Business Minister Rushanara Ali addresses small business policy conference
FSB volunteers gathered for the annual policy conference this week, at London’s County Hall, to discuss key policy asks and look towards the next general election. The conference was hosted by broadcaster Cathy Newman and led by FSB Policy and Advocacy Chair Tina McKenzie. Shadow Small Business Minister Rushanara Ali spoke at the event, saying “I think that FSB plays a vital role in making sure that small businesses have a strong voice in our society but also to the Government.”
Only two weeks to register with HMRC for self assessment
The deadline to register with HMRC for self assessment for the 2022 to 2023 tax year is 5 October. If you are a small business owner, or new to self-assessment, you can check if you need to register using the Government’s checking tool.
RHA Forum for the Future
Delivering a keynote speech at the Road Haulage Association (RHA) annual Forum for the Future this week, FSB National Chair Martin McTague said: “The UK’s economic recovery and growth relies on having a fit-for-purpose HGV infrastructure. But the industry faces significant challenges. To help get the HGV sector back on track Government needs to look at imaginative ways to tackle the shortage of drivers, improve road infrastructure and help with the transition to net zero.”
One week left until the single-use plastics ban comes into effect
From 1 October, businesses will not be able to supply single-use plastics to members of the public without incurring a fine. The ban will cover a range of products, including plates, bowls, cups, trays, containers, cutlery, and balloon sticks made of single-use plastic.
Business rates relief for small firms: action needed
Government must extend the 75 per cent business rates relief discount for retail, hospitality and leisure businesses to provide targeted help to hard-pressed small businesses, said FSB this week. The relief should continue beyond the April cut-off in England, throwing a lifeline to thousands of small firms in our town centres and on our high streets that are vulnerable to increasing costs. FSB is calling for an increase in the threshold for Small Business Rates Relief (SBRR) from £12,000 to at least £25,000, removing more than 250,000 small businesses from the rates system.
Northern Asian Power Business Barometer launched
The Northern Asian Power Business Barometer for 2023 was launched during an event at the House of Lords, this week. FSB’s Chief of External Affairs Craig Beaumont said: “The business barometer is a great idea, as the more data we have on funding and opportunity gaps for ethnic minority-owned businesses and for entrepreneurs from marginalised groups, the more can be done to offer additional support. FSB is proud to back this launch, and we are very much looking forward to seeing the impact the barometer will have, so that the potential and talents of businesspeople from ethnic minority groups can be allowed to flourish even more, boosting prosperity, and reducing inequality.”
Small housebuilding sector: letter to Minister of State
FSB has written to the Minister of State for Housing and Planning Rachel Maclean, outlining a set of plans to help the struggling small housebuilding sector. The letter calls for a Small Construction Business Strategy and other key measures such as a Brownfield Development Relief, to “focus policy proposals on a sector experiencing significant pressures” and help achieve the Government’s housing targets.
Small Business Index quarter three survey is now live
Calling all small business owners! The latest FSB Small Business Index (SBI) survey for Q3 2023 is now open. The quarterly SBI is a confidence reader of small businesses, and the results help us to make the case for policy change to Government and important decision-makers. Take the survey now to help drive policy change across a range of important areas for small businesses.
Skills and education: small businesses to help develop new qualifications
The Department for Education would like feedback from small business owners to help it develop Functional Skills Qualifications (FSQs), designed to teach students the literacy and numeracy skills needed for everyday life and work. The link to the survey is online here, with the deadline to respond on 25 September.
Be part of the ScaleUp Institute’s 2023 survey
The ScaleUp Institute is calling for the owners and founders of fast-growing small businesses to take part in its tenth annual ScaleUp Survey. The survey will seek to understand current barriers to the future growth of scaling businesses, and how these can be overcome, forming the basis of the institute's annual Scaleup Review, which will be published in November 2023.
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