Business concerns
The Institute of Directors recently unveiled a policy paper ‘The SME Glass Ceiling – Growth Obstacles in 2007’, which identified a series of priority issues for government action.
Apparently regulation, taxation and education are (and were) of concern to businesses of all sizes. The report identifies five issues that are highlighted specifically by small and medium-sized enterprises (SMEs).
These top five concerns were:
- Late payment
- Lack of business finance
- National Insurance contributions
- Business rates
- Levels of government business support
In your experience is the IoD right? If so, will the measures they propose help?
The report’s key recommendations include:
- Rejection of the Lyons Report recommendation on the introduction of Supplementary Business Rates.
- Calls for a government led investigation into the extent of late payment, its consequences and potential solutions
- An appeal to the Government to reduce the burden of taxation on business – especially in the areas of Corporation Tax and National Insurance
- The introduction of a clear set of criteria requiring a certain level of economic return for every pound spent on government business support.
