The government has not made good on its promises to SMEs. The budget fails to provide them with the support they need to succeed and will harm their growth.
Increase in employer national insurance payments presents a real risk to SMEs already struggling with high costs and thin margins, potentially leading to cashflow crises.
A rise in capital gains tax discourages the entrepreneurial spirit needed in the UK economy, with 1,600 directors closing their businesses since October.
The budget must recognize SMEs not just for their importance to the economy, but for their fragility, as unexpected costs can jeopardize their future.
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