Forum reflects on a 'good Budget' for small firms

The Forum of Private Business (Forum) is urging small firms to take advantage of the Annual Investment Allowance increase announced earlier this week by the government.

While the organisation says that earlier action could have been taken, it believes there are now "big savings to be had" for firms looking to upgrade their equipment.

Additionally, the Forum's Chief Executive Phil Orford said that the introduction of more tax inspectors is a "sensible measure" in the fight against tax avoidance.

Overall, Mr Orford said that the Autumn Statement represented a "good Budget" for small businesses as they can cut day-to-day costs.

He added: "We also massively welcome the news on SBBR (Small Business Rate Relief), as will our members. This is a really important element of the Chancellor's statement for small business."

The Federation of Small Businesses concluded yesterday (December 6th) that the scrapping of January's planned Fuel Duty rise would lead to small firms breathing a sigh of relief.

Posted by Thomas Fletcher

Last updated: 7th December 2012