The Federation of Small Businesses (FSB) has reportedly welcomed many of the measures recently announced by George Osborne in the 2015 Budget.
Included in the March 18th statement were simplifications to the tax system, new investment in high-tech hubs, and better broadband access.
Wilfred Mitchell, the Northern Irish FSB’s policy chair, had this to say about the changes to the way taxes would be filed:
“We are especially pleased that the idea for a single digital tax account is being taken forward. This is something that the FSB have long advocated – featuring prominently in our 2015 Business Manifesto.”
The organisation also welcomed the fact that farmers would be able to average their income across a period of five years. This change would allow them to manage cash flows better, especially as this can be a huge issue in the farming community due to its seasonal nature. As famers have to rely upon a good harvest, this can result in what is otherwise a viable business going bankrupt because of a bad season.
However, cash flow issues affect many business sectors in the UK, with thousands of companies across the country affected each year. In fact, studies have shown that one in six British firms worry about their cash flow.
At DJB, we have provided many enterprises with the cash they need to avoid this issue through a number of ways, including asset financing and equipment finance solutions. We can help you too, so just pick up the phone and speak to our experts.
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