Coventry chamber of commerce urged government to prioritise reducing cost of business  - The Coventry Observer

Coventry chamber of commerce urged government to prioritise reducing cost of business 

Holly Clement 24th Jun, 2024   0

THE COVENTRY and Warwickshire Chamber of Commerce urged the next Government to prioritise reducing the cost of doing business, particularly for small firms.

As the General Election approaches, the Chamber is advocating for a focus on skills development and the provision of more employment land to spur economic growth in the region.

The Chamber has gathered feedback from local businesses to identify key obstacles to growth and plans to collaborate with the region’s MPs after July 4 to ensure that companies have the best opportunities to invest, expand, and hire new staff.

Steve Harcourt, director of Prime Accountants Group and president of the Coventry and Warwickshire Chamber of Commerce, said: “We want the economy to grow and for businesses to have the confidence to invest.

“The last few years have felt quite uncertain, and we need a sense of stability after the General Election.

“The next Government won’t have a huge amount of headroom on tax but if it can look to reduce the cost of doing business it will have a positive economic effect.”

The Chamber is advocating for a comprehensive overhaul of the Business Rates system to create a fairer environment that would help revive high street businesses.

Steve supports raising the VAT threshold to benefit smaller, lower-turnover businesses, giving them better opportunities for growth.

He also calls for increased incentives for businesses investing in green, sustainable practices, noting the potential economic and social benefits.

Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce, added: “As we build towards the General Election, we want to make sure that businesses in Coventry and Warwickshire are heard and then, of course, we’ll work with every MP in our region to help support companies of all sizes and sectors on our patch.”

Crane called for greater support for international trade to reduce export costs and cut through regulatory red tape.

He emphasised the need for the next Government to support both new and expanding businesses to ensure robust economic growth.

The Chamber will host a hustings event with local candidates on Friday, June 28, at Coventry University’s Delia Derbyshire Building.

For more information, interested parties can contact Sean Rose at [email protected].

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