13-03-2008
Small business finance 'not boosted enough by Budget'
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Small firms and their needs have not been prioritised in chancellor Alistair Darling's first Budget, according to a policy representative from the Forum of Private Business (FPB).
Matthew Goodman, speaking on BBC News 24, said small business finance was only "thrown a few bones".
Admitting that difficult economic circumstances may have limited the chancellor's options, Mr Goodman added that there is more that could be done for small firms.
"We were hoping for a reduction in the small corporation tax and we're not going to get it, we're going to get a rise," the policy representative said.
Mr Goodman suggested the lowering of the upper rate is "just not enough".
He warned: "The work that they've done to promote women's enterprise and to encourage small businesses to grow is only going to bring back a fraction of really what the tax burden has taken away."
Meanwhile, the managing director of Abbey Business Banking, Ian Wilson, said the government has recognised that small firms "need all the help they can get", especially those just starting up their business.
Mr Wilson said while half of UK residents would like to start up their own business, only one in six on average achieve this goal.
He said it is hoped that more opportunities and increased financial breaks offered by the government should boost these figures.