The chancellor’s autumn statement introduced several significant changes that will inevitably impact SMEs, particularly with regards to increased employer NICs and minimum wage laws.
Many owners expressed their concerns over the rising operational costs stemming from the new policies, highlighting that the increases in employer NICs will strain their already limited budgets.
Responses indicate a mix of apprehension and acceptance among SMEs, with some viewing the minimum wage rise as an opportunity to attract better talent, despite the higher costs.
Overall, the feedback suggests that while larger businesses can often absorb such changes, many smaller businesses are worried about their sustainability under the new fiscal landscape.
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