On Saturday it was a real pleasure to attend the Ashby Christmas Market and celebrate the significant contribution that small businesses play in our community. As a local small business owner myself, I know how important these events are.
Small and medium businesses make up 99.9 per cent of the 5.6 million businesses in the UK – they employ almost 17 million people and contribute £2.4 trillion to the economy. Small Business Saturday showcases small businesses right across the country – many of which support local highstreets and provide local jobs.
At the Autumn Statement 2023, the Chancellor announced the Conservative Government has frozen the small business rates multiplier for a fourth consecutive year, saving an average shop £1,650 on their business rates bill. A million British businesses will benefit from this.
The Conservative Government is also extending the Retail, Hospital and Leisure (RHL) relief meaning 230,000 properties will benefit from almost £2.4 billion in support, protecting small businesses in our high streets and town centres.
To further support small businesses, the Autumn Statement also announced the Government will end the scourge of late payments to support businesses with their cash flow.
This recently announced support is in addition to tax cuts for smaller businesses when they employ more staff and a lower rate of corporation tax for smaller firms, protecting them from excessive tax bills so they can focus on growing their business.
Supporting small business is part of the Conservative Government’s priority to take the long-term decisions for a stronger economy.
Small Business Saturday was the perfect opportunity to celebrat the many small businesses in North West Leicestershire, doing brilliant work week after week.
