Mar 11, 2020

Small businesses give their verdict on the Budget

"We are a small business trying to create jobs in the UK. The tax benefit has been aimed at new start-up tech businesses. There are lots of older businesses in the UK that could expand faster with that support." The tech CEO. Peter Proud, founder and chief executive of Edinburgh-based digital services company Cortex Worldwide, has plenty of suggestions for ways the UK government could help small businesses. He said another thing the government could do to help small businesses grow would be to offer financial guarantees to support their bids for contracts with large companies, an approach that might encourage big businesses to more quickly make use of innovative service providers. Adam McGill is only 28 but he has already made use of entrepreneurs' relief, the tax break that was reduced in the Budget. Mr McGill said he would be willing to pay more income tax, especially to fund the NHS, but he warned against increasing taxes on business just as the UK was leaving the EU. "Brexit is going to happen no matter what you think about it. We need to attract business to our shores. This Budget is our chance to send that message to Europe and the world," he said, adding: "I would like to see a low tax environment. There is an anti-rich vibe we need to end."

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