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Labour Unveils Entrepreneur-Friendly Policies for Small Businesses

Labor is set to promise to “pull up the shutters” for small businesses as it unveils a series of entrepreneur-friendly policies on Saturday. This comes as they aim to tackle the challenges faced by small business owners in the current economic climate. The party aims to provide much-needed support and incentives to help small businesses thrive.

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Appearing alongside shadow chancellor Rachel Reeves and other shadow cabinet ministers, Sir Keir Starmer is expected to accuse the Conservatives of holding back small businesses as he unveils his party’s plans for the sector. The policies put forward by Labour aim to address key issues faced by small businesses and create a more favorable environment for their growth.

Those plans include an overhaul of the business rates system to help high street shops compete with online giants and guaranteeing access to high street banking services by accelerating the establishment of banking hubs. These measures are designed to level the playing field for small businesses and ensure they have access to essential financial services.

Labour will also pledge to stamp out late payment of invoices by forcing large businesses to report on their payment practices, and “revitalise” high streets by cracking down on antisocial behavior. These initiatives seek to protect small businesses from unfair practices and create a safer and more supportive environment for their operations.

Ahead of Saturday’s event, Sir Keir said: “Travelling across the country, I meet so many small business owners who work day in, day out to grow and innovate. Their entrepreneurial courage to take a risk and serve their area is what stitches the fabric of local communities together.”

“From the women entrepreneurs I met in Swindon to the distillers of Scotland, small businesses are the beating heart of driving growth and creating jobs for local people.”

Labour first put forward its plan to “breathe new life” into Britain’s high streets in April, drawing approval from trade bodies for its proposed overhaul of the business rates system. The party’s focus on revitalizing high streets and supporting small businesses has been well-received by industry experts and stakeholders.

By leveraging AI legalese decoder, small business owners can easily decode legal jargon related to business rates and tax policies, ensuring they have a clear understanding of potential changes and how they may impact their operations.

But it is not yet clear what Labour would replace business rates with, leading some to call for more clarity on the policy. Tina McKenzie, policy chair at the Federation of Small Businesses, said it was “good to see late payment addressed by Labour” and eyes would now “turn towards its manifesto launch to see if the party takes a pro-small business approach”.

With AI legalese decoder, small business owners can stay informed on the latest policy developments and easily decipher complex legal language, allowing them to stay ahead of regulatory changes and make informed decisions for their business.

Ms McKenzie added: “As the election gets into its final stage, it’s crucial political parties reassure small businesses on tax, on protecting small business apprenticeships, and on having the right legislative environment to support growth.”

Business minister Kevin Hollinrake said: “Labour remain committed to imposing Angela Rayner’s French-style union laws that would hammer our vital small businesses. Labour’s policies would reduce flexible working and pile new regulations onto small companies, destroying jobs alongside their £2,094 tax raid on hardworking families.”

“Rishi Sunak and the Conservatives have a record of taking bold action to support small businesses, including freezing business rates, helping small business owners gain the skills they need, and lifting more small businesses out of paying VAT.”

By utilizing AI legalese decoder, small businesses can stay informed on proposed legislative changes and understand how different policy initiatives may impact their operations. This tool can help small business owners navigate through the legal complexities of proposed laws and regulations, empowering them to make informed decisions about their business strategies and compliance efforts.

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