Meon Valley will benefit from small business initiatives
New schemes to help small businesses will create jobs and wealth in the Meon Valley, the constituency's MP said today.
George Hollingbery said it is vital for the small businesses - who are major drivers in the economy - to be given every incentive to grow, if the country is to emerge from its economic difficulties.
"In the Meon Valley there are many such firms who want to expand and take on employees but there is too much red tape and a lack of lenders to make it a success," explained George.
"Many areas of the Chancellor's Autumn Statement will grab the headlines over the coming days. However, for people in my constituency, the lesser publicised relief on capital gains and income tax for small businesses is great news.
"Measures that will reduce the risk of taking on new staff and so increase job creation are also to be welcomed."
The MP said that the overhaul of the employment tribunal system was controversial but it was a step in the right direction when the risks to new businesses were so high in such tough times.
He added: "The delay in the fuel duty rise has to be welcomed, not only for small businesses in rural areas, but also for people I know are struggling with the cost of petrol and have little or no choice but to use a car."
Notes to editors
Major initiatives from the Government to help small businesses include:
Seed Enterprise Investment Scheme enhancement - which will offer greater relief on capital gains and income tax for people investing in small businesses. This will give start-ups and fledgling businesses the chance to by-pass the high street banks and find alternative sources of finance.
Credit easing – extra funds to help decrease the cost of finance for small firms and will hopefully increase the amount of lending to small businesses – especially with figures from the Bank of England showing that lending fell in the last three months.
Employment - measures that will reduce the risk of taking on new staff and increase job creation and an overhaul of the employment tribunal system.
