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Small Businesses Get a Taste Of What’s To Come For The UK

May 24, 2010 by Priit Vaikmaa

As the new UK coalition government begins to form its policies, we take a look at what’s in store for the SME

In the last couple of weeks, it’s been difficult to forsee how the change of power in British politics would shape the economy as far as small business is concerned. Liberal and Conservative pre-election policies have often looked as if never the twain shall meet. However, news released by the UK media, including on the BBC website and Telegraph Online seems to mark that the political wrangling to reach agreements on policy seems to have drawn – temporarily – to a close.

It’s been a tough time over the last few years for small businesses, and likewise marketers, in the UK –so what has the new Government got in store to help get Britain back on its feet?

UK Government Sets Out Plans to Reduce Small Business Regulations

Great news for small business – there are plans afoot to reduce regulation and red tape, which means those in business with limited resources can get on with what they do best – selling their services and products into the economy.

Taxation is always a sour note with any small business, in particular the time and effort it takes to produce accounts. The new government has committed to carrying out a review of all small business taxation, including automatic small business rate relief, a reduction in corporate tax and increasing the current threshold of employers’ National Insurance contributions.

The Government is also looking into how to make it easier for people to set up in business, promote small businesses within public sector procurement and help improve the competitiveness of the UK tourism industry. It’s all good news for the thousands of SMEs out there who have ridden out the rough times of recent years.

Marketing Initiatives for Small Business in the UK

So what does it mean in terms of being able to market your business in the new economic climate? We’re hoping that the new streamlined rules for small businesses will mean that entrepreneurs and business owners will have more time to dedicate to building their businesses – as well as a little more in the bank to support marketing initiatives and keep on communicating with their customer base. With mobile and SMS marketing increasingly on the rise and the numbers of smartphones on the streets of countries around the globe rising by the day, this year is definitely the time to engage a new style of marketing and take advantage of the fresh political and economic climate.

We’ll be watching with interest how UK Government policy unfolds over the coming weeks and months, as will, no doubt, every business in the country. Could the next twelve months really spell the end of economic gloom and doom? We certainly hope so.