This post was originally published on The FinTech Times
Nineteen per cent of businesses are more inclined to invest in their business now that there is greater clarity on the UK Government’s economic roadmap finds Simply Asset Finance, the asset finance provider for businesses. However, smaller firms are not so optimistic about the future.
The research revealed that in the past year, firms have been battling with changes to national insurance and the minimum wage. Nonetheless, following the October Budget, firms have felt better about the future as they prepare to implement the required tax changes. However, smaller businesses have a bleaker outlook than medium-sized ones as Simply Asset Finance breaks down the impact of Chancellor Reeves’ interventions.
Fifty-three per cent of businesses questioned believe the recently announced reduction in business rates for retail, hospitality, and leisure will enable growth. Specifically for medium-sized businesses, 55 per cent saw the business rate reduction as a growth opportunity, while 48 per cent believed the fuel duty freeze would support their expansion.
Furthermore, looking at investment in infrastructure, 46 per cent of medium-sized firms expect transport spending to boost growth, with 43 per cent viewing energy infrastructure improvements as essential. With these resources at their disposal, medium-sized businesses could be poised to leverage these policies
— Read the rest of this post, which was originally published on The FinTech Times.