Spring Budget: We need pro-jobs solutions
The Federation of Small Businesses (FSB) is continuing its advocacy work around the Spring Budget. This week, FSB’s National Chair Martin McTague told Bloomberg that the £85,000 VAT threshold needs to be increased to £100,000, adding: “VAT remains a giant headache, the current threshold stifles firms.” FSB is also calling for an uprate in the Employment Allowance to £6,500, and then it should increase automatically in line with the National Living Wage. Other calls include plans to introduce tax-free shopping and the extension of the Recovery Loan Scheme (RLS).
FSB survey: The future of workplace pensions
Small business owners can take part in FSB’s workplace pensions survey to understand employers’ opinions on expanding workplace pensions for younger workers, as well as the level of employer contributions. The results will help shape the future of pension policy. The survey shuts on February 28 at 9.30am.
Small Business Council’s first meeting
The first meeting of the Government’s newly formed Small Business Council took place on Thursday. The council will bring front-line business issues to the heart of the Government, shining a light on the unique challenges facing small firms. FSB’s Policy Chair Tina McKenzie, who sits on the council, said: “FSB is pleased to join this council, and we hope to focus on how to reignite economic growth across our community.”
Promoting inclusive entrepreneurship
FSB’s Head of Policy Research, Emelia Quist, spoke at the Time to Change: Power of Partnerships event in Birmingham, hosted by the Centre for Research on Ethnic Minority Entrepreneurship (CREME) at Aston University, in conjunction with NatWest. She discussed FSB's ongoing work on promoting inclusive entrepreneurship as well as recent and upcoming research on ethnic minority-led businesses. FSB’s Unlocking Opportunity report made several recommendations to the Government to promote inclusion and equity for ethnic minority-led businesses, including steps to improve access to finance for entrepreneurs, and Government business support.
APPG on Fair Business Banking
FSB attended the All Party Parliamentary Group (APPG) on Fair Business Banking’s launch of its new report on de-banking in the UK. The report found that individuals and businesses are increasingly being denied access to vital banking services without a clear explanation from their banking provider. Heather Buchanan, Director of Policy for the APPG, spoke at the event, discussing the vital need for regulatory reforms to secure fair access to banking services. She also raised the need for greater transparency from banks on the processes that inform de-banking decisions, which FSB has also called for.
The future of the Digital Pound
FSB Senior Policy Advisor, Andrea Macleay, attended the Industry and Parliamentary Trust’s event on the future of money and the digital pound, a proposed new central bank digitalised currency (CBDC). The event welcomed speakers including Sarah Breeden, Deputy Governor of the Bank of England for Financial Stability, who spoke about the future of the digital pound, and the impact that the introduction of a UK CBDC would have on consumers and businesses. The Bank of England recently published a consultation paper on the proposed introduction of the digital pound and the impact it would have on businesses. FSB raised the importance of considering implementation costs for small firms and ensuring that cash is still available as a method of transaction for businesses and customers.
Supporting workers going through the menopause
The Equality and Human Rights Commission (EHRC) has published new resources for employers supporting workers going through the menopause. The resources, which FSB helped develop, are free to access and cover a range of topics, such as employers' legal obligations to making reasonable adjustments and facilitating conversations about menopausal health.
Thinking of taking on an apprentice?
Employers thinking of taking on an apprentice – or building on their existing offering - can visit the Department for Education’s ‘Employer’s Guide to Apprenticeships’ YouTube video playlist, which FSB helped compile. The bitesize videos have been designed to help small firms successfully take on and get the most out of apprenticeships. The videos feature information and advice about finding the right apprenticeship for your business, what to ask an apprenticeship training provider and how to secure the right apprentice.
2G and 3G switch off
Mobile networks will gradually be switching off their 3G networks, starting early this year. This will affect customers on those networks using older mobile devices and services, as well as other devices, such as care alarms, security alarms and payment terminals. Check with your device supplier or service provider to find out if your device will be impacted. Mobile operators will begin to turn off their 2G networks after the 3G switch off is complete. Find out more on the Mobile UK website.
Bin your litter
National Highways has launched a new campaign to increase awareness amongst road users, including commercial drivers, of the impact of litter on the roads. The ‘Lend a Paw – Bin your Litter’ campaign, run alongside the RSPCA and Keep Britain Tidy, reveals that more than three million animals a year are killed due to litter.
Digitalising trade conference
FSB members are invited to join the International Chamber of Commerce’s Trade C4DTI Digital Trade Conference and Awards, taking place in London on 17 and 18 April. FSB’s Head of International Affairs, Kate Foster, will join an expert panel to discuss the benefits of trade digitalisation for small firms, and how it can benefit economic growth. The first day of the conference takes place online and is free to attend, while the second day will take place in-person and is paid for. Tickets are available on the conference website.
Scotland: Small firms, have your say on the Heat in Buildings Bill
FSB’s Head of Policy and External Affairs in Scotland, Stacey Dingwall, attended a roundtable hosted by Scottish Government Minister Patrick Harvie MSP, to discuss the proposed Heat in Buildings Bill. The Scottish Government has set targets that require Scotland to reach net zero by 2045, a 75 per cent reduction in emissions by 2030, and 90 percent by 2040. During the roundtable, Stacey discussed the impact these proposals will have on small businesses. She highlighted how Government must provide consistent policy and certainty on funding. FSB is submitting a response to a consultation on the Heat in Buildings Bill, FSB members can sign up for a virtual roundtable on 28 February to share their thoughts.
Wales: FSB gives evidence to Senedd’s Economy and Trade Committee
This week, Ben Cottam, FSB’s Head of Wales, gave evidence to the Senedd’s Economy, Trade, and Rural Affairs Committee, which is currently gathering evidence on the Development Bank of Wales and considering its overall performance since its establishment in 2017. Ben spoke about how important the bank is for small businesses, especially on improving access to finance for SMEs. The committee will assess how the bank compares to other similarly sized development banks globally, in terms of types of support provided and its impact on economic growth.
Northern Ireland: FSB meets with Economy and Finance Ministers
FSB in Northern Ireland met the Economy Minister of Northern Ireland, Conor Murphy MLA, and the Finance Minister, Dr Caoimhe Archibald MLA earlier this week. Several key issues topped the agenda, including the importance of extending the 75 per cent business rates discount for Northern Irish businesses in the retail, hospitality, and leisure sectors, and the urgent need to deliver financial support for the businesses that were impacted by floods in October and November. The Department for the Economy has announced that the support schemes for businesses are expected to open within the next two weeks.
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