SMEs hit by Budget measures
The FSB has warned that measures introduced in the Summer Budget risk damaging growth. Its latest quarterly survey of confidence among smaller businesses suggested that the number of companies expecting to grow had fallen, while hiring intentions had cooled. Increased taxes on dividends and steep increases in the minimum wage were cited as the most challenging measures. "The recent budget left many small firms with real challenges to overcome in how they operate in future," said chairman John Allan. ManpowerGroup Solutions UK has also warned that the rise in the minimum wage is affecting hiring and growth prospects. MD James Hick said employers were scaling back their recruitment plans and that job prospects were at their weakest since the final quarter of 2012 say Harris & Co chartered accountants Northampton, the specialist small business accountants.