Facebook - Shropshire Business Twitter - Shropshire Business LinkedIn - Shropshire Business
http://www.dykeruscoe.co.uk http://www.fbcmb.co.uk

Business support a priority for political parties

Shropshire accountants are calling on all political parties to prioritise support for small and medium sized businesses in the run-up to the election.

The team from Dyke Yaxley Chartered Accountants, in Shrewsbury, have joined other members of The Corporate Finance Network to urge candidates to think carefully about the impact their manifesto could have.

Director Mark Bramall (pictured) said it was vital that the main political parties focused on helping owner-managed businesses to continue to support the growth of the economy.

“They must put an end to some worrying developments in the current environment for SMEs, particularly the uncertainty over Brexit, as well as other issues that will damage the long-term future of entrepreneurs if they are ignored,” he said.

Mr Bramall said SMEs provided almost half the UK population’s employment and half of the country’s economic turnover.

“But their owners are growing older, and there is little incentive to encourage the next generation to take over. Most owner managers are nervous of buying another company, and so tax advantages to encourage them to consider this move would be very welcome.

“Otherwise we will see an increasing number of businesses wind up over the next five years, with inevitable redundancies, because there aren’t enough purchasers willing to take over the business. Funding to support management buyouts would also be a good idea – it’s already available in Wales, so it could be rolled out across the UK.”

Mr Bramall said changes to the leadership of the Financial Conduct Authority would help, particularly when it came to crowdfunding.

“There is a drastic need to speed up the authorisation of existing crowdfunding platforms, and the rollout of the Innovative Finance ISA products announced by the Government last year.”

He also said banks were now required to refer any SMEs they had declined for funding to one of three online finance brokerages, where businesses can pitch their needs directly to alternative lenders.

“But while this may appear to be good news, there is a real lack of any advice during the process, and the main political parties should consider reviewing the entire process to ensure entrepreneurs are getting advice that meets their individual circumstances.

“Political representatives must prioritise the support offered to SMEs to allow them to grow, but at the same time create an environment that includes sensible advice and the opportunity to explore all available options before making any big decisions.”


Marie achieves her lifetime ambition

Dyke Yaxley Chartered Accountants have a new MD

1st May 2019

Charities receive generous donations

Chartered accountants raise over £3,200 for good causes

30th May 2019

Second helpings of club breakfast

Breakfast Club to help solicitors with tax planning

11th November 2016

Pensions deadline looming

Employers must auto-enrol staff, advises accountant

2nd June 2017

Unexpected Christmas gift

Bonuses may qualify for exemption

14th December 2017

Beware using personal savings to fund venture

SME owners should try and stay protected, says expert

30th January 2018

Elderly workers want to stay on

Benefits for employers of experienced workers, says accountant

6th March 2017

Sweet tooth pays off for charity

Fundraiser leaves sweet taste for accountants

22nd November 2016

Laura joins accountants' corporate team

New recruit welcomed at Dyke Yaxley

26th February 2018

County accountancy firm in expansion move

Dyke Yaxley announces acquisition of Gorman Evans

2nd October 2017

Limited window for tax relief claims

Shropshire businesses urged to seize opportunity

19th September 2017

Kick-start for charity appeal

Staff from Dyke Yaxley support cancer charity campaign

8th September 2017

Accountants back netball team

Robins sport new kit thanks to Dyke Yaxley sponsorship

17th February 2017

Guests stump up cash for charity

Well known cricketers guests of honour at fundraiser

4th December 2016

VAT changes could leave businesses worse off

New flat rate scheme to hit smaller firms

4th May 2017