David Cameron promised SMEs support this 2014 as the nation realises the potential of these businesses in improving the UK’s economy. However, there are factors to consider that could greatly affect the Britain’s SMEs this 2014.
Zero hour contracts
Zero hour contract, the employee’s contract commonly used in UK, is an issue the government has not yet tackled as they need more consultation and advice towards the topic. Business owners could submit their opinions or reactions regarding the topic until March 13.
Business rates
Although the measures have been announced, SMEs should have to wait for its effect. The chancellor has proclaimed that the rate will rise only at least 2%. The figures will surely increase but it is not too much as you think. This change has earned positive remarks since expensive rates are to be blamed for the struggle of UK’s high streets.
Energy
This area is also up for changes but the government has to make it slowly but surely. It is just a small step but certainly headed to the right direction. It could get SMEs closer to their contracts.
Optimism
The optimism of SMEs towards the economy is the one that should be maintained by the administration. The positive thinking is contagious that every region and every sector in UK are also looking forward for brighter days.
What 2014 has in store in uncertain, but the figures show potential of recovery due to the optimism of SMEs. This is a great sign of an improving economy
Business owners have to be ready for whatever the year might bring to the offices and high streets of the country. We do hope the government will keep their promise and support small businesses in their journey towards success.