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Small business want tax breaks to help take on more staff

Small businesses wait in hope for tax breaks

Small business want tax breaks to help take on more staff

A recent study commissioned by O2 shows that small businesses would greatly benefit from tax breaks for employing unemployed young workers.

The research shows that almost a quarter of small businesses would welcome tax incentives to take on young people who are not currently employed, in further education of under a training programme.

The report claims that putting these measures in place would generate a whopping £238 million revenue a year and help put over more than 170,000 young people into work in the process.

Simon Devonshire, The head of small business marketing for O2, commented:

“In the current political climate, we can’t underestimate the credibility and insight that
comes from small businesses and their power to affect change.”

He added:

“As the single biggest employers in the UK, these findings reflect their position as the
driving force behind our economy.”

With the Budget announcement looming over us many small business owners are hoping for badly needed tax breaks, including a reprieve from the planned increase in National Insurance contributions and a drop in corporation tax.

However, the time is finally upon us and all we can do is cross our fingers and hope for a positive outcome.

Related articles:

Budget has no major impact on most small businesses

Small businesses saved from tax increase

BCC outlines budget requirements to support small business


Photo by Arvind Balaraman

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