Next week sees the first Budget of the Boris Johnson Government, and the first since the UK formally left the European Union at the end of January. And nobody is quite sure what to expect. More questions were raised with the recent surprise resignation of the Chancellor, Sajid Javid in the recent reshuffle.
Now, all eyes will be on Rishi Sunak to see what he proposes in his statement on March 11th.
As always, the budget can have a big impact on small businesses across the UK. Despite the election and Brexit date having passed, there is still some uncertainty in the market place, and some small businesses are still struggling in these complex times. Hence, they will wait with interest to see the effect of any new proposals on SMEs.
One aspect which could have an impact on small business owners, is the potential scrapping of entrepreneurs relief.
We will also be watching to see if there will be any proposals which impact on small business’ ability to raise finance. With SMEs keen to grow, the importance of access to capital will remain a key issue.