There has been plenty of speculation ahead of today’s Autumn budget, a key milestone for the new Labour government, and none of it has been very positive.
As I previously mentioned in a recent comment, nobody wants to see any more of their hard-earned cash swallowed up by HMRC but according to the chancellor, with the UK’s debt now hitting 100% (or more) of GDP, we have to balance the books somehow.
A constant stream of headlines on the scale of expected tax rises has spooked consumer confidence, according to the GfK’s consumer confidence index, despite forecasts of a further drop in interest rates from the Bank of England in November and December.
And it is also a worry for businesses, including those operating in the fenestration sector. According to specialist SME lender, Simply Asset Finance, 74% of SMEs have said that the upcoming budget will directly impact their future growth plans, while research from Novuna Business Finance has also revealed that 86% of UK small business owners are concerned about potential tax rises, including to National Insurance.
But is there any way for businesses to mitigate against these additional financial pressures?
Some would argue that one of the most effective ways to do so, would be to maximise productivity and operational efficiency by ensuring you are equipped with the best software solutions.
Again, this is something that I have highlighted in previous comments, but the value of technology that’s on offer to the industry from the likes of Business Micros, Ab Initio, Business Pilot, Cyncly, End-to-End – and more besides – really cannot be overestimated.
And neither can the benefits of effective marketing, to make sure you make the most of all available opportunities, using traditional print and digital channels combined with modern video, social media and Artificial Intelligence.
There will no doubt be bitter pills to swallow in the Autumn budget, but the industry has proven time and again that it has the ability to innovate and overcome major challenges and I would suggest that now, thanks to a range of sophisticated tools and expertise, we have never been better equipped to do so.
Brace for budget bombshells
There has been plenty of speculation ahead of today’s Autumn budget, a key milestone for the new Labour government, and none of it has been very positive.
As I previously mentioned in a recent comment, nobody wants to see any more of their hard-earned cash swallowed up by HMRC but according to the chancellor, with the UK’s debt now hitting 100% (or more) of GDP, we have to balance the books somehow.
A constant stream of headlines on the scale of expected tax rises has spooked consumer confidence, according to the GfK’s consumer confidence index, despite forecasts of a further drop in interest rates from the Bank of England in November and December.
And it is also a worry for businesses, including those operating in the fenestration sector. According to specialist SME lender, Simply Asset Finance, 74% of SMEs have said that the upcoming budget will directly impact their future growth plans, while research from Novuna Business Finance has also revealed that 86% of UK small business owners are concerned about potential tax rises, including to National Insurance.
But is there any way for businesses to mitigate against these additional financial pressures?
Some would argue that one of the most effective ways to do so, would be to maximise productivity and operational efficiency by ensuring you are equipped with the best software solutions.
Again, this is something that I have highlighted in previous comments, but the value of technology that’s on offer to the industry from the likes of Business Micros, Ab Initio, Business Pilot, Cyncly, End-to-End – and more besides – really cannot be overestimated.
And neither can the benefits of effective marketing, to make sure you make the most of all available opportunities, using traditional print and digital channels combined with modern video, social media and Artificial Intelligence.
There will no doubt be bitter pills to swallow in the Autumn budget, but the industry has proven time and again that it has the ability to innovate and overcome major challenges and I would suggest that now, thanks to a range of sophisticated tools and expertise, we have never been better equipped to do so.
Glass Times
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