During the Queen’s Speech yesterday, a number of Bills were discussed which could affect small businesses.
As well as discussing immigration and the economy, the Queen promised “a fairer society where aspiration and responsibility are rewarded.”
At the top of the agenda was low interest rates for businesses. The ten minute speech then went on to cover a new employment allowance to help small businesses, and a long-awaited announcement that excessive regulation will be cut for small businesses.
Responding to the Bills, John Allan of the Federation of Small Businesses (FSB), particularly welcomed the prospect of deregulation.
He said: “We will be looking closely at this Bill, with a view to further simplifying and reducing regulation for small firms. We have welcomed much of what the Government has done so far in this area and look forward to further measures to make it easier for small businesses to be both compliant but also grow.”