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This podcast selection is taken from a series of Business Hub radio shows broadcast on Star FM between February 2011 and October 2014 with advice from basic book-keeping through to crowd funding, directors loans, cashflow and a whole lot more!

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Business Trouble - your choices

Budget 2012 - An Interview With Nick Paterno

The Business Hub Show - 25 March 2012

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On this weeks Business Hub Show Garry Mumford is joined by Nick Paterno, Managing Partner of the Kent based accountancy practice McBrides. Nick has extensive experience advising owner-managed businesses from sole traders to Partnerships and Limited Companies and specialises in the financial aspects of legal practices.

On 22nd March McBrides hosted a post budget breakfast and asked their 100 strong audience of Business Leaders and SME representatives a series of questions pertaining to the March 2012 budget.  The results were both surprising and informative and give us a good insight into the opinions on the economy by SME’s…

How has the budget affected your confidence in the outlook of the economy?

  • 71% Confident/Quite Confident

What affect has the budget had on employment within your business?

  • 0% would employ more as a result of the measures introduced in the budget
  • 23% would employ people regardless of the measures in the budget
  • 74% just waiting at the moment – not sure if taking on or losing staff

What measures would you like to have seen in the budget?

  • 68% would like to have seen an extension of the stamp duty holiday for first time buyers which expires on 24th March and could have a knock-on effect on the industry as a whole.
  • 71% of people felt the 3p increase on fuel duty being introduced in August (which adds up to 3.6p if you add the VAT onto the duty) should have been scrapped.

Do you think the budget has done enough to kick-start the economy?

  • 0% said yes definitely
  • 76% said they felt the jury was still out at the moment.

In all likelihood the measures won’t have much of an affect until April 2013 despite other measures from the Chancellor:

  • Further 1% Reduction of Corporation Tax for larger companies down to 24% from 1st April
    - There was nothing to incentivise smaller businesses where the Corporation Tax rate remains at 20%
  • Reduction of top rate tax from 50% to 45%

The overall conclusion we can draw from the votes is a cautious feeling of confidence in the economy but a lack of any specific measures within the budget to boost the economy further. More needs to be done for SME’s to encourage growth.

Download a copy of our March 2012 Budget Report

Download the results of McBrides Poll


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