The Federation of Small Businesses (FSB) says it hopes that, now the Conservative Party has won a clear majority of seats in the House of Commons, it will honour the commitments made during the election campaign to help small firms by: ending the late payment crisis by introducing a reform package that was ‘put on pause’ by the election; increasing the Employment Allowance; extending and expanding existing business rates discounts, while launching a review aimed at reducing the financial burden of rates; launching a self-employment review to help those struggling to access pensions and mortgages; and improving infrastructure, with an ambition to deliver full-fibre gigabit broadband and investing £2 billion to fill in the potholes that blight our local road network.

FSB (www.fsb.org.uk) national chairman Mike Cherry said: “Small-business owners will be hoping that the clear election result helps to bring stability back to the economy. After more than three years of Brexit absorbing ‘government bandwidth’, the Conservative Party has pledged to tackle the many domestic challenges that have been
neglected during that time.

"Small businesses the length and breadth of the UK will be looking to the new Government to achieve positive change for small firms in its first 100 days, not least with a pro-business Budget in early February.

"The restoration of small-business confidence and trust in politics rests on seeing the Conservatives’ pledges to us swiftly enshrined in a programme for government. It’s now time to turn kind words on bread-and-butter issues facing the small-business community into tangible action.”

Meanwhile, BCC director general Adam Marshall said: “Restoring business, investor and consumer confidence — and firing up the economy — must now be the Prime Minister’s top priority. Campaign slogans must give way to a renewed focus on the details that matter. Our business communities need to see swift, decisive action to avoid a messy and disorderly exit from the EU and to tackle the barriers holding back investment and growth here in the UK.

“Businesses’ priorities for the new Government include: avoiding a no-deal exit from the EU and delivering a smooth transition, giving firms time to prepare; acting rapidly to reform business rates and replace them with a fairer
system; pressing ahead with improvements to transport infrastructure; investing in our skills base and reforming the Apprenticeships Levy, so that more small firms can access high-quality training locally at affordable cost; and delivering a sensible immigration system that gives firms access to essential overseas talent at all levels.”