Chamber urges next Government to reduce the burden on business
Bringing down the cost of doing business – especially for small firms – should be a top priority for the next Government.
That’s the view of the Coventry and Warwickshire Chamber of Commerce, which has also called for a focus on skills and a greater provision of employment land in the run up to the General Election.
The Chamber has listened to the views of local businesses on what is holding back growth and plans to work with the region’s MPs after July 4 to ensure companies in the region have the best opportunities to invest, grow and take on new staff.
Steve Harcourt, director of Prime Accountants Group and president of the Coventry and Warwickshire Chamber of Commerce, said there were a range of measures that could ease the burden on doing business.
He said: “We want the economy to grow and for businesses to have the confidence to invest.
“The last few years have felt quite uncertain and we need a sense of stability after the General Election.
“The next Government won’t have a huge amount of headroom on tax but if it can look to reduce the cost of doing business it will have a positive economic effect.
“The Chamber will continue to push for a Business Rate overhaul in order to create a fairer system that will help to drive more people back to our high street businesses.
“I would also support a rise in the VAT threshold because, again, this would have a positive impact on smaller, lower turnover businesses that would give them a better opportunity to grow.
“In other areas, we’ve seen corporation tax rise and incentives to invest reduce. The next Government should look to really incentivise businesses that look to invest in green, sustainable methods of doing business as that will have a positive knock-on effect both economically and socially.
“Rising interest rates and accessing finance remain a barrier to business growth and while there will always be a threshold for the risk lenders are willing to take, the process does need to be streamlined and decision making should be speeded on behalf of businesses and entrepreneurs who want to invest.
“Overall, we recognise the Government has to collect tax from businesses in order to invest in public services. It’s vital that it gets the balance right in order to give companies the best chance to grow.”
Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “As we build towards the General Election, we want to make sure that businesses in Coventry and Warwickshire are heard and then, of course, we’ll work with every MP in our region to help support companies of all sizes and sectors on our patch.
“We’ve highlighted employment land and the need for even greater skills provision as two barriers to growth and the overall cost of doing business is another.
“As well as measures around tax, we’d also like to see even greater support for international trade to reduce the cost of exporting but also to cut through the red tape. On top of that, the next Government needs to commit to support businesses that are either starting out or that want to expand in order to ensure our economy is given the best possible chance to grow.”
The Chamber will be holding a hustings event with local candidates on Friday, June 28 at Coventry University’s Delia Derbyshire Building. For more information, email Sean Rose at seanr@cw-chamber.co.uk
