Smallest businesses are driving the UK’s economy
Reacting to a report by the RSA which found micro businesses, including the self-employed are driving much of the UK economy’s success.
Chris Bryce, chief executive, IPSE said: “This report confirms much of what we know about the self-employed. They work incredibly hard and are a significant driver of the UK’s productivity but often don’t get the recognition they deserve. There is a very important message to get out about working for yourself. While it may be hard work, the self-employed are more satisfied with their jobs and are more enthusiastic about their work.
“The smallest businesses need the right kind of support so they can continue making the difference to the UK’s economy. One area needing action is our payment culture. A shocking 85% of small businesses suffered from late payment in the last two years – this is simply not acceptable. It holds back businesses from investing in new staff and equipment and can even mean people aren’t able to pay themselves or their workers. Plans to implement IPSE’s proposal of a Small Business Conciliation service are welcome and need to be pushed forward by the government in the coming months.
“Developing new skills is also often trickier than it should be for those running their own business. This is because of the way the tax system treats training for the self-employed. Making training for new skills tax-deuctible would provide a real boost to those entrepreneurial individuals looking to grow their business and help the self-employed boost the UK’s productivity levels.”