Data from the Office for National Statistics shows that the UK’s GDP in the fourth quarter of 2019 was flat — at 0.0%. Reacting to this news, Federation of Small Businesses (FSB) national chairman Mike Cherry said (
www.fsb.org.uk): “Small firms right across the country will be looking for the upcoming Budget to create a pro-business environment that encourages growth and success.
"For too long, small firms have been in the doldrums, with business confidence in negative territory for the entirety of 2019; this has seen small firms hold back on investments, exports and hiring intentions.
"Years of political uncertainty have an impact on productivity, and that’s evident in the ONS figures.
This Government must put the measures in place that small firms need to thrive: a pro-business free-trade agreement with the EU and nations beyond; an immigration system that works for firms all sizes; and an end to the debilitating impact of late payments, which almost doubled to £20 billion last year.
“The Budget is a chance for the Chancellor to illustrate his support for small firms.
“It is vital that the cost of doing business — specifically when it comes to business rates, protecting incentives to grow and accelerating delivery of the infrastructure commitments outlined recently by the Prime Minister — are all a must.”