Budget? What Budget?

Hi to the four million of you who are Enterprise Britain – the owners, managers and workers within Britain’s key economic sector.

Many of you will have been working over the May Bank Holiday and if not you were probably worrying about the stresses of continuing your businesses in these recessional times.

You may even have been reflecting on the Budget 2009. Were you pleased with the Chancellor’s measures? Changes to capital allowances, increases in the inheritance tax allowance and the capital gains tax exempt amount, the carrying back of losses and so on. There was some tinkering with EIS and VCT rules but it was all rather limp.

I can’t imagine that the increase in income tax to 50% if you earn over £150,000 will worry many of you. I wish you were earning these sums – hell, you deserve it – but I doubt it.

This takes us to the heart of the issue we face. In commercial and political terms we simply don’t count. Of course political leaders, bankers and others (the CBI etc.) feel it sounds good to say the right thing about what they call ‘small businesses’.

It’s rather like alcohol intake: drinking no more than three units a day is supported by everybody until the front door closes.

The commercial and professional sectors don’t like small businesses. You can’t pay them enough fees and you ask too many questions. Politicians go for the votes.

Over the next few weeks we will look at the measures needed to improve the situation for members of Enterprise Britain. They will include –

1. The availability of economic professional advice.

2. The provision of low cost equity investment funds

3. A collective appreciation of the importance of Enterprise Britain to the national
economy.

4. Cash flow management and Government support.

May is often a great month and the Australians are coming. There will be future for us all. It’s time for change.

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