The 2023 Budget announcement has brought with it a host of changes that will impact businesses across the UK. From changes to corporation tax to new initiatives to support small businesses, it’s clear that the government is keen to encourage economic growth in the aftermath of the COVID-19 pandemic.
For many businesses, accessing the finance they need to grow and thrive is a key priority in the coming months. That’s where we can help. With a range of flexible finance options and a commitment to supporting companies of all sizes, we are well-positioned to help businesses navigate the post-Budget landscape.
One of the most significant changes announced in the Budget is the increase in the corporation tax rate from 19% to 25% for businesses with profits over £250,000. This increase will come into effect this year and is expected to generate around £17 billion in additional revenue for the government. For businesses that will be impacted by this change, finding ways to manage their cash flow and access finance will be crucial.
At Johnson Reed, we offer a range of finance options that can help businesses to manage their cash flow and invest in growth opportunities. Whether you’re looking to purchase new equipment, expand your premises, or invest in new staff, we can help you find the finance solution that’s right for your business.
One of the key advantages of working with us is our flexibility. We understand that every business is unique, and we’re committed to finding finance solutions that are tailored to your specific needs. Whether you need a short-term loan to cover a cash flow shortfall or a longer-term finance agreement to fund a major investment, we can help you to find the right solution.
Another area where we can help businesses after the Budget announcement is in accessing the government’s new support initiatives. For example, the government has announced a new £375 million Future Fund: Breakthrough scheme, which is designed to support high-growth, innovative businesses in sectors such as life sciences, quantum computing, and clean energy. The scheme will provide funding of between £20 million and £50 million to eligible businesses, with the government taking an equity stake in return.
If your business is eligible for this scheme, Johnson Reed can help you to navigate the application process and secure the funding you need to take your business to the next level. We can also help you to access other government support initiatives, such as the Small Business Grants Fund, which provides grants of up to £10,000 to businesses that have been affected by the COVID-19 pandemic.
In conclusion, the 2023 Budget announcement has brought with it a host of changes that will impact businesses across the UK. However, with our help, businesses can access the funding they need to manage their cash flow, invest in growth opportunities, and take advantage of government support initiatives. If you’re looking for a finance partner that can help your business to thrive in the post-Budget landscape, get in touch with us today.
