Small businesses in the UK are calling on the government to enhance access to funding, subsidize AI training, and reform the tax system to foster economic growth. A Goldman Sachs report, based on feedback from participants in its training program, emphasizes policies such as expanding growth capital, increasing public procurement opportunities for SMEs, and integrating employability skills in schooling. Entrepreneurs expressed frustration over rising tax burdens, particularly increased national insurance contributions, which have hindered their hiring and investment plans.
We want to invest in the future of our businesses, but rising tax burdens are forcing us to reconsider our growth plans.
The NICs rise has already forced my company to cancel hiring plans, illustrating the real impact of increased tax burdens on SMEs.
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