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SMEs need to lead economy debate

Published on 28 Apr 2010 under category: legal

Small-to-medium sized UK firms have called on all three parties to address their concerns about finance in tomorrow's final leader's debate.

The Federation of Small Businesses (FSB) will highlight its recent research.

It also wants to make the case for getting rid of the plan to increase National Insurance Contributions (NICS) by one per cent.

The organisation believes that around 570,000 jobs will be lost in the sector if NICs are hiked up, at a time when recovery "remains fragile".

In particular, it aims to put forward its findings about the prospects for small businesses in the current climate.

While almost two-thirds of businesses plan to keep employment levels "on hold", around 41 per cent of businesses complain that they are still reeling from the impact of the recession.

In addition, another report highlighted how only 18 per cent of businesses had tried to apply for credit to tide them over – and that only half (50 per cent) were successful.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.