Rowena Howie
London Policy Representative
Federation of Small Businesses
The latest London Small Business Index shows that confidence is drifting in the wrong direction. The lack of clear and consistent business friendly policies, combined with the political and economic conditions, are putting huge pressure on small businesses.
We must concentrate on what is required to keep small businesses functioning, and the benchmark must be continued access to finance. Businesses will not want to take out more debt at a time of rising interest rates and will be struggling to service the existing debts accumulated during the Covid crisis. Our financial institutions must be on their side through maintaining positive relations and an understanding manner.
The fact that investment intentions remain strong is something we must build on. We must make it easier to invest in skills in small businesses by minimising bureaucracy and creating fiscal incentivisation, most notably through Apprenticeship co-finance support.
FSB London are also keen to see action taken to support small businesses who will be impacted by the extension of the Ultra-Low Emission Zone in August 2023. FSB recognises the climate emergency and the commitment to move to net zero – but the Mayor and Department for Transport must support the small business community through education and incentive approach to make greener decisions, discouraging non-essential business private vehicle journeys, and not to punish essential business journeys at this time of economic crisis.
Rowena Howie, FSB London Policy Representative
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