Small Business Saturday 2023 is being marked on 2nd December, celebrating the contribution small businesses across the UK make to the local and national economy. In Warrington South, Andy Carter MP was out meeting small business owners across his constituency to thank them for supporting the high street and providing local jobs.
Small and medium businesses make up 99.9 per cent of the 5.6 million businesses in the UK, employing almost 17 million people and contribute £2.4 trillion to the economy. Last month in the Autumn Statement, the Chancellor announced that the Government will freeze the small business rates multiplier for a fourth consecutive year, saving an average shop £1,650 on their business rates bill and benefitting a million British businesses.
The Government is also extending the Retail, Hospital and Leisure (RHL) relief meaning 230,000 properties will benefit from almost £2.4 billion in support, protecting small businesses in the high streets and town centres. The Autumn Statement also included the announcement that the Government will end the scourge of late payments to support businesses with their cash flow.
This recently announced support is in addition to tax cuts for smaller businesses when they employ more staff and a lower rate of corporation tax for smaller firms, protecting them from excessive tax bills so they can focus on growing their business.
Andy Carter MP said:
Small Business Saturday is a fantastic day to celebrate all our small businesses and traders here in Warrington South. In the town centre and our villages we have so many brilliant businesses across a whole range of sectors including retail, services, manufacturing and hospitality.
I always try and pay our local businesses a visit when I’m out and about in the constituency. This week it’s been especially great to meet with so many small business owners across Warrington to say thank you for all they do by providing jobs for local people and driving our local economy.
Small Business Minister Kevin Hollinrake MP said:
Small businesses are the backbone to the economy – they are the ones investing, creating new opportunities and bringing life to our town centres.
Alongside cutting business rates the Government is supporting small businesses with tax cuts to employ more staff, access to the finance they need and ensuring small businesses are paid on time to avoid cash flow issues.
By supporting small businesses the Government is making the UK the best place in the world to start and grow a business, attracting investment in every corner of the country.