Small businesses are the lifeblood of our economy. In Dulwich and West Norwood, we are lucky to have around 3,500 small businesses. These businesses create a community – in the lead up to Small Business Saturday, I have been inundated with emails from people nominating their favourite small business for the competition I am running to find the best local small business.
Small businesses employ 12 million people in the country and since 2010, businesses have created 2 million new jobs. That means 5 jobs in the private sector for every job lost in the public sector over the last four years.
Saturday 6th December is Small Business Saturday – a celebration of small businesses and their great contribution to our economy. Small businesses make up two thirds of jobs in the private sector and provide a unique service to the local community.
In Dulwich & West Norwood we are spoilt for choice with small businesses aplenty. Our high streets would not be the same if it were not for our independent coffee shops, restaurants and shops so I hope you will all join me in showing your appreciation for small businesses by shopping in a small business on Small Business Saturday.
Small businesses do not have the same access to funding or low prices as bigger businesses so it is vital that we support them as much as possible if we want to keep our unique businesses in Dulwich & West Norwood.
I am really pleased that there are 760,000 more private sector businesses overall compared to 2010 as this means that the changes this Conservative Government has made are having the desired effect. Some of the measures the Conservative Party have taken to help small businesses such as:
1. Increasing the discount on business rates to £1,500 for high street shops and cafes.
2. The Employment Allowance has cut the jobs tax of every business by up to £2,000 meaning 450,000 small businesses will pay no jobs tax at all this year.
3. Cutting employer’s National Insurance contributions for apprentices under 25 from 2016 – also boosting opportunities for young people.
4. Unlocking £10 billion of financing for smaller businesses over the next five years.
5. Cutting red tape reducing the net cost to businesses by 1.5 billion.
I hope that you will all support small businesses on Small Business Saturday and I look forward to announcing the winner of my Small Business competition!