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Britain to see change in business rates and new schemes to promote Entrepreneurship
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Actions are required to help ‘shopkeepers’ thrive again, pushing entrepreneurship – especially in ‘working class’ areas of the country to help promote growth and ease the damage to local shops and business’ from the large corporate online retailers.

The Conservative government is trying to shift its image to one that caters for the needs of ‘working people’ to enable the country to become ‘truly modern and successful’ – unleashing the potential and energy of everyone in society.

The changes come after George Osbourne’s decision to use his budget to announce a National Living Wage in order to give workers all over the United Kingdom a pay rise. The government will be identifying the obstacles and areas of which most effective the birth and developments of modern day entrepreneurs. Mrs Mone, who is said to be worth approximately £20 million through her lingerie enterprise, is touring the country to establish why businesses are not being created by people from working class backgrounds.

Iain Duncan Smith, the Work and Pensions Secretary, said that Mrs Mone’s review is going to help people from poorer background to overcome the tricky barriers of going into business themselves. He, with help from Mrs Mone, will be working together to work out how people from all backgrounds can take on this entrepreneurial spirit in what will be a large scale plan to provide the platform for growth.

Mrs Mone said: “My philosophy is that it does not matter where you are from, what education you have, or if you are from an affluent background or not, you can make it if you work hard, set your goals and never give up”. The review will include a special focus on learning more about disadvantaged groups, including those claiming benefits, women, young, disabled people and ex-offenders.

The London Mayor – Boris Johnson, called for the Conservative party to ‘smash down’ barriers to social mobility and end the dominance of the middle class, working in professional jobs. Mr Osbourne announced the biggest review of business rates in a generation, in a bid to help high street shops thrive, even with the competition from large internet companies. The investigation into how they can change the system is set to help change 1.8 million businesses in England paying rates that are considered to be severely damaging small firms.

The 400 year old business rates system that is still in operation today is meaning that small businesses are unable to compete with huge online retailers that are paying relatively small rates, while maintaining huge annual turnovers.


Contact JT Thomas & C Accountants in Criccieth. Professional chartered accountants who can help with all your business questions and needs.


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