Where would we be without businesses? They grow our food, harness ideas that make our lives better, and generate the tax that pays for our public services – and that’s just the start.
It’s good news therefore that we now have over 5.6 million businesses across the country, an increase of nearly a quarter since 2010. Better still, we’re lucky to have a thriving mix here in Faversham and Mid Kent.
From farms to foundries, health-tech to rocket manufacturers – we’ve got all kinds.
In fact, one of the only things they all have in common is how tough they've found the last few years. Covid and then the global fuel shock have given businesses plenty to think about besides expanding.
With unprecedented support we got business through the pandemic, and over the last year we’ve worked hard to halve inflation. If we want to keep funding our public services, it’s now time to get businesses thinking about growing again.
When I was a minister in the Treasury I spent a huge amount of time looking at what we can do to help small businesses grow. Taking that next step can be a challenge, and we have to support businesses by getting policy right.
That’s why at last month’s Budget the Chancellor introduced a host of new measures to support them, including raising the VAT threshold, freezing alcohol duty to support pubs, and cutting tax for the self-employed. These measures are on top of the £11 billion investment incentive introduced back in the Autumn - the biggest business tax cut in modern British history.
But it’s not just at a national level that we need to get things right. There are so many things we can do at a local level to help too, and I’ve made it one of my 5 priorities to help our local businesses grow - with support from councils and government ministers.
Just after the Budget I sent a survey out to all of Faversham’s businesses asking them what more we could be doing to support them – like making sure the town’s parking policy works for them.
You can find this survey on my website, and I’d love to hear from businesses from other parts of the constituency too. Fill it in here.
I invited the Farming Minister down to Graveney last year to listen to local growers’ concerns, and have been sticking up for Stockbury’s businesses as they deal with ongoing roadworks.
And last month I hosted the Maidstone Apprenticeship Fair, where local businesses like MEP Ltd from Aylesford and Bedfont Scientific from Harrietsham could seek out the next generation of skills.
Local businesses make where we live richer in more ways than one, and the more support we can give them the better. Please do think about backing local businesses when you can, and if you run a local business and you need my help, please do get in touch. I’m here to help however I can.
Together we can boost our local economy and generate all kinds of new jobs.
