We have waited with baited breath; first came the election and now the eagerly anticipated Summer Budget announcement. How will the cuts and spends affect SMEs?
SMEs will undoubtedly feel the pinch of the 'New Living Wage' and it appears the loss will not be counteracted by the extension in the 'employment allowance', nor will it be recouped through changes to Corporation Tax as many businesses are just too small to reap the rewards of the latter. Will we experience an adverse affect on the 'Buy British' efforts as many businesses could opt to outsource labour? What would Mary Portas have to say about that!