While the Chancellor announced a whole raft of investment incentives for businesses today, there was very little detail in the Budget to tackle the small business funding crisis.
George Osborne said Britain was “open for business” with a further corporation tax reduction and the creation of the Employment Allowance, which will reduce each company's NIC bill by £2,000, however he didn’t go far enough in addressing the lending issue.
Despite passing references to the new Business Bank, the Funding For Lending scheme and Growth Vouchers, the lack of detail in the Budget comes as a major disappointment for many small business owners.
A recent survey from TaxAssist showed that access to funding was a top priority for local companies. TaxAssist’s Jo Nockels said...
About Robert Lovell
Business and finance journalist