George Osborne's Autumn Statement: The key points for small businesses

The last announcement Osborne made was that there will be a huge decrease in the cost of hiring young people. National insurance contributions are being taken off the table, affecting a million and a half jobs across the country. Businesses could save up to £1,000 from every applicable employee.

"We're backing British businesses all the way!" George Osborne said at the end of tons of great tax news. The highligh was a new reoccupation relief to encourage new shops which will be worth £1,000 to every retail premises in England.

The biggest announcement of the day was a massive expansion of Start Up Loans! Find out what the government back funding can do for you here.

Osborne said, "We have to help our businesses compete!", which lead onto praise for Britain's low corporation taxes, but there was no big change in the rates businesses will pay. However, there is now a cap on inflation increase in business rates for all premises of 2%. Businesses will also be able to pay their rates over 12 months.

The Chancellor praised Britain's businesses for giving people the chance to work. If you've employed new people this year, take a second to congratulate yourself!

The Chancellor said, "Businesses are expanding, but business tax is too high and exports are too low." There's some good news for British businesses looking to export, with greater financial support coming from the government. Are you on the verge of selling overseas?

We knew that George Osborne was going to freeze fuel duty, but there was no rumoured 1p cut! What could that have meant for your business?

And that's what we've got. Were you expecting more? Is there something from the Autumn Statement that will help your business? Let us know!

 

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