Today is Small Business Saturday
The annual campaign day to celebrate and promote our 5 million small businesses, many found on our High Street, that are so important to our economy. I visited small businesses across Bournemouth East and popped in to Syd's Slaps (yes, there's a story behind that name) in Southbourne Grove, opened just 4 months ago and spoke to owners Fiona & Ricky about their business.
Small businesses contribute over £150bn to our economy and keep our High Streets alive.
Here are 10 ways in which we are helping small businesses.
- Freezing business rates for small businesses, saving the average business £1650.
- Extending the Retail, Hospitality & Leisure relief, helping businesses mostly commonly found on the high street.
- Ending the scourge of late payments, helping businesses with their cash flow.
- Securing £900m in start-up loans, helping entrepreneurs secure the finance they need.
- Extending the number of small, young businesses that can apply for government backed loans, helping them grow.
- Cutting tax for businesses when they employ new staff, ensuring businesses can offer new local jobs.
- Introducing new investment zones on top of the existing 12 across the country.
- Cutting regulation by increasing the SME threshold.
- Protecting small businesses from large tax bills through the Small Profit Rate.
- Freezing alcohol duty to support the hospitality sector.