Knowledge Centre
17th November 2008
Action must be taken to help small firms in the run up to the Government's pre-Budget report, according to the Federation of Small Businesses (FSB).
The group has called on the Government to cut taxes and make £1 billion available to help money flow while the economy gets back on track.
"Innovative and short term solutions" are needed, according to the FSB, which has proposed that Chancellor of the Exchequer Alistair Darling sets up a Small Business Survival Fund in the November 24 speech.
The survival fund would operate in place of the Small Firms Loan Guarantee scheme, while the FSB has also suggested scrapping proposed corporation tax increases, and making more money available from the European Investment Bank.
The call comes as the FSB launches its Keep Trade Local campaign across London, with a six-stop tour to reinforce the six points of the campaign manifesto.
FSB national chairman John Wright said the UK's small businesses needed action.
"Small businesses are facing a crisis as finance dries up and the cost of finance rises," he said.
"The Government must do everything it can to ensure small firms do not need to turn to alternative and expensive sources of finance."
IMAGEJohn Giles/PA Wire
Small business action urged ahead of pre-Budget report
The group has called on the Government to cut taxes and make £1 billion available to help money flow while the economy gets back on track.
"Innovative and short term solutions" are needed, according to the FSB, which has proposed that Chancellor of the Exchequer Alistair Darling sets up a Small Business Survival Fund in the November 24 speech.
The survival fund would operate in place of the Small Firms Loan Guarantee scheme, while the FSB has also suggested scrapping proposed corporation tax increases, and making more money available from the European Investment Bank.
The call comes as the FSB launches its Keep Trade Local campaign across London, with a six-stop tour to reinforce the six points of the campaign manifesto.
FSB national chairman John Wright said the UK's small businesses needed action.
"Small businesses are facing a crisis as finance dries up and the cost of finance rises," he said.
"The Government must do everything it can to ensure small firms do not need to turn to alternative and expensive sources of finance."
IMAGEJohn Giles/PA Wire
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