Sussex Enterprise, the accredited Chamber of Commerce for Sussex, is pleased that significant changes to business support have been announced in the Chancellor of the Exchequer’s Autumn Statement.
Nick Handley, Executive Chairman of Sussex Enterprise, commented: “Directionally, there appear to be a number of changes that will benefit businesses in Sussex such as; the extension of the Small Business Rate Relief, a further reduction in Corporation Tax to 21% and the abolition of any short term Fuel Tax rise should benefit all businesses.
“Of particular interest is the ten-fold increase in the tax allowances on capital expenditure for plant and machinery which it is said will benefit 99 per cent of businesses.
“On the down side, however, the lack of response to the recommendations made in Lord Heseltine’s recent review on growing the economy is very disappointing. The Chancellor said that a response will be given in the Spring. In the meantime, “Local Enterprise Partnerships will, it is said, benefit from greater funding although the total figure is as yet not clear.
“It is, in my view, unfortunate that LEPs will have to bid for funding instead of concentrating on using the funding to improve skills and generate new jobs.
“The Chancellor ended the Autumn Statement with the words – Britain is Open for Business. His measures should help build business confidence and business investment.
“The Chancellor’s business support measures which are briefly outlined above will be supported by a significantly larger programme of Sussex Enterprise events and workshops in 2013 which will support all our members, from start-ups to the largest businesses in Sussex. The aim of Sussex Enterprise in these tough times is to help all Sussex businesses gain confidence and become more successful.”
Sussex Enterprise is the largest organisation that represents businesses in Sussex and is owned by and accountable to the business community.
Part of the British Chamber of Commerce movement, Sussex Enterprise is one of the leading new style chambers of commerce in the country.
Sussex Enterprise currently has around 2,000 member businesses from across the county.