The impact of the suspension of Parliament on UK SMEs
Last week Prime Minister Boris Johnson announced that the Government will suspend Parliament for five weeks from mid-September. This break will be used to end the current session of Parliament and bring forward an opportunity for Boris Johnson to set out his ambitious plans for the UK post-Brexit. While the move is seen by some as controversial it could give SMEs and investors cause to be optimistic.
Boris Johnson’s rhetoric so far has been positive about the current and future state of the UK economy and business sector. After this suspension it is expected that the Queen will deliver her speech setting out the Government’s plans for after Brexit to ensure the continued success of British business. These plans could provide welcome boosts to help encourage investment in early stage businesses.
There are a number of possible ways that the Government could encourage investors to help small businesses to grow and thrive, from extending the scope of the Enterprise Investment Scheme to providing great tax incentives for investors through such schemes. The job growth provided by this kind of investment will provide far higher tax revenues than the incentives provided.
The SME arena contributed £1.9 trillion to the UK’s economy in 2017 and so supporting this community through investment is of the utmost importance. As the backbone of the private sector, SMEs will be a huge factor in determining the success of Brexit and onwards. Encouraging investment into starts-ups and scale-ups will stand the UK economy in good stead for the future, both in the short and long term.
IW Capital is keen to help SMEs that need assistance to plan for the future and find the right kind of investment in order to help them reach the next level.
To find out more about IW Capital, or for more information on investment and non-executive opportunities, please speak to a member of the IW Capital team today on 020 7015 2250, or email firstname.lastname@example.org