Burnham must ease cost pressures for SMEs to unlock growth
Following Andy Burnham’s appointment as prime minister, Lisa Cleaver, COO at eCapital UK, an alternative finance provider, has shared her views on what his government must prioritise to unlock growth for SMEs.
Lisa warns that higher business taxes and operating costs continue to hold back investment, recruitment and expansion. See comments below:
Lisa Cleaver, COO at eCapital UK, commented: Rising operational costs and higher business taxes, including increases to Employers’ National Insurance contributions and business rates, have placed unprecedented pressure on the cash flow of small businesses across the UK over the past 12 months. For many, this has significantly reduced their ability to invest, recruit, and drive growth, particularly where access to working capital remains limited.
“If prime minister Andy Burnham is serious about unlocking growth for small and medium-sized businesses across the regions, the Government must move beyond rhetoric and take decisive action. That means accelerating measures to reduce energy and fuel costs for businesses, not just households, and committing to a meaningful review of the business tax burden. Without targeted support to ease these pressures, many SMEs will remain focused on survival rather than growth, limiting investment, job creation, and the wider economic potential of regional economies.”