Zoe

As champions of small business owners (and as business owners ourselves), we recognise the moral responsibility of paying taxes and contributing to the public finances that support vital services. However, the warning shot about the intensity of next months autumn budget comes at a time when many small businesses are already grappling with the harsh realities of the cost-of-living crisis. The ever-narrowing margin between what consumers and customers are willing to pay and the rising costs of employment, materials, and other operational expenses is pushing many businesses to their limits.
For many businesses, profitability is becoming harder to maintain, and any further tax increases could make it even more challenging to ‘make money’. With the Autumn Budget 2024 fast approaching, here’s what small business owners should watch out for and how to prepare for possible changes.