With just 2 days to go, who will you cast your vote for, and what will it mean for your business?
The economic policies proposed by the major political parties will have significant implications for businesses across the UK. This blog examines how the pledges of Reform UK, the Labour Party, the Conservative Party, the Liberal Democrats and the Green Party are likely to affect the business landscape.
Here is a summary of the major party’s key pledges effecting small to medium sized businesses, entrepreneurs and the self employed:
Summary
The economic policies proposed by the major political parties for the 2024 general election present a varied view for the future of UK businesses.
Reform UK’s tax cuts present favourable conditions for micro businesses. The Conservatives pledge to maintain the status quo on tax, and bolster support for business growth to grow the economy overall. The Green Party’s manifesto unsurprisingly leans towards sustainable investment, but also features worker rights and pay which may impact employment in the SME sector. Labour’s manifesto see’s little change for SMEs, but aims to close the gap between big and small business tax rates. Whilst the Liberal Democrats are focusing on boosting funding for the SME sector.
Businesses must consider how these potential changes align with their strategic goals, and prepare for the future accordingly.
CH4B is here to help small to medium sized businesses
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