Britain’s 5.7 million small and medium sized businesses make up around 50% of the jobs in the UK. They are the lifeblood and the backbone of the British economy. Many a young person’s first job is with a small or medium sized business.
• It is vital that they have a trading environment that makes it easier for entrepreneurs to start businesses, to recruit staff, to attract investment, and to have fair access to UK Government markets.
• UKIP will ensure that HMRC thoroughly investigates big business or public-sector bodies that repeatedly make late payment to smaller customers, and we would create an anonymous reporting system. Fines proportionate to the amount of delayed payments will be levied. And will escalate for repeat offenders.
• UKIP will improve access to trade credit insurance especially as it relates to exports, to remove the drag on growth for businesses struggling to secure loans and give small traders the confidence to expand their businesses.
• We will encourage local trade by pushing local authorities in the country to offer at least 30 minutes free parking in town centres and shopping parades.
• We will also freeze Insurance Premium Tax. Previous governments have raised this tax as an easy way to generate extra revenue, yet it cannot be claimed back by businesses, so increases have been especially tough on smaller traders.
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