Chancellor George Osborne’s Autumn Statement brought a mixed reaction from the business community - although judging by our bulging inbox, business people in the region have plenty to say about it!
Some feared that the Small Business Rate Relief would be scrapped, but it has instead been extended by a year. This will only be of comfort to the smallest scale businesses, but there was further good news when no cuts were made to the Entrepreneurs’ Relief, although many would like to see more support for those starting and growing companies, and a business rates review.
More positivity came with the announcment of 18 new Enterprise Zones. The Newhaven Zone and Enterprise M3, along with an extension to the North Kent Innovation Zone, will offer reduced rates and more business support to companies here, although most of the zones are located north of the region.
Mr Osborne also announced a quarter of a billion pound investment in Kent’s facilities to help ease the misery of Operation Stack.
With the National Living Wage and pension auto-enrolment looming in 2016, these initiatives will be of vital importance to many businesses. How does 2016 look for your business? What changes would you have liked to see?
Please get in touch with your comments and pick up the next issue of South East Business to read reaction from the business community across the area.