Pensions ticking time bomb will cost small firms

By : Administrator
Published 10th November 2010 |
Read latest comment - 15th November 2010

From the Federation Of Small Business

Automatic enrolment into a pension scheme, due to come into force in 2012, will cost small businesses

Steve Richardson
Gaffer of My Local Services
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Comments
It seems to me that small businesses needs help not more burden and red tape.
Considering small businesses are collectively the largest employer in the country but already pay the largest proportion of company tax per employee to the exchequer its about time the trend was reversed and help given to grow these businesses.
All too often we've seen Government and indeed local government throw money at foreign companies to bring their factories over here and invariably the majority are here for a relatively short time at huge costs to the taxpayer.
Supposing that money had been used to help small viable indigenous businesses grow, wouldn't we all be in a better position now?
There are too many of these small businesses failing now which in most cases goes unnoticed. There are a large amount of these businesses who fail simply because the banks reduce their overdrafts so that they have no liquidity, suppliers will not supply to them with credit terms, its cash only, in many cases they have a great order book but have to close their doors due to lack of funds.

This situation can only get worse with this type of burden.

garlex

I was naive enough to believe that we already had automatic enrolment into a basic survival-level pension scheme called "National Insurance".

Sometimes I'm so gauche I want to slap myself.

VirtuallyMary

For NI read TAX!!!!!!!!
There was a time these went into different pots but not any more, they all go into one.
So when governments say they are keeping PAYE as it is but will increase NI, they are increasing our taxes!

garlex

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