Local MP Sajid Javid is backing Small Business Saturday as he welcomes the exciting news that over 1,880 new businesses have started up in Bromsgrove district alone since 2010.
Official figures show that the number of new businesses being ‘born’ each year rose by 37% between 2010 and 2013. This coincides with a fall in Bromsgrove unemployment by 55% since May 2010.
Since the last election in 2010, Government has thrown its weight behind small businesses and introduced a range of measures to make it easier for businesses to set up and thrive.
A cut in corporation tax, help with business rates and the landmark Employment Allowance, have all led to the creation of 760,000 more private sector businesses across the country, compared to four years ago.
In the Chancellor’s Autumn Statement he announced that he will again extend the doubling of Small Business Rate Relief and continue to cap the inflation-linked increase in business rates at 2%.
The £1,000 discount for shops and cafes on the high street will increase to £1,500 and there will be a full review of the structure of business rates to report before Budget 2016. We will increase the R&D tax credit for SME firms to 230%, the maximum allowed and extend the Funding for Lending scheme by another year – focusing it entirely on small businesses.
This week is Small Business Saturday, which aims to support, inspire and promote small businesses. Sajid will be visiting our local businesses on Friday in advance to spread the word with the Federation of Small Businesses.
Together, they will be encouraging residents to support their local small businesses, especially those based on the newly rejuvenated £2 million Bromsgrove High Street.
“I wholeheartedly support Small Business Saturday. 1,880 new businesses in this constituency, in just three years, is a brilliant achievement and testament to our fantastic local business people!
These new businesses may start small, but with our support, they may just be the next big thing! We should do all we can to support our enterprising entrepreneurs as they deliver services and create jobs for local people.
We must not forget that it is small businesses which are responsible for nearly half of job creation in the UK, and that’s why Government is continuously looking for new ways to support them.
With the recent investment of £2 million in rejuvenating Bromsgrove’s High Street, and new small businesses springing up in Alvechurch, Barnt Green, Hagley and Aston Fields – to mention but a few, now more than ever, is the time to support Small Business Saturday this weekend”.