#small-business-policy

#small-business-policy

Mayor-elect Zohran Mamdani would do well to remember the words of chef and humanitarian Jose Andres: We must build longer tables. Mayor Mamdani should build a long policy tableone that makes room for a diversity of perspectives as it relates to small businesses, and he should ensure that the hospitality industry has a seat to inform his restaurant and nightlife policy.

The Bank of England's decision to maintain the base interest rate at 4% until 2026 offers UK SMEs a rare opportunity amidst these ongoing economic challenges. This stability is crucial as inflation remains at 3.8%, creating a complex landscape that demands careful navigation by businesses. However, while stable interest rates can provide predictable borrowing costs - enabling SMEs to plan investments and manage cash flow - persistent inflation means that operational expenses are still rising, putting pressure on profit margins across various sectors.