Budget lets down SMEs – MD of Bibby Financial Services commentary

“Today’s silence on specific SME support is hugely disappointing. With 44%* of SMEs having delayed investment decisions until after the Budget, the absence of meaningful and targeted measures today will further hold back capital expenditure.

“This Budget offered little to ease the pressures SMEs are facing day in, day out. Inflation and rising operating costs remain the most pressing challenge for two-thirds of SMEs, and without intervention to ease this burden, the government risks stalling their ability to invest in jobs, innovation, and growth.

“SMEs are the beating heart of the UK economy, and today they needed a signal of confidence. Instead, while this Budget stopped short of harming SMEs, it also stopped short of helping them. For a government that promised to champion small business growth in its Plan for Change, this is a missed opportunity.”

Derek Ryan, UK managing director at Bibby Financial Services

*Data from BFS’s SME Confidence Tracker Autumn 2025, survey of 1,000 UK SME owners and decision makers conducted by Critical Research between 12th-27th August 2025.