With a general election drawing ever closer; there is much talk of future economic stimulus from all major political parties and much public scrutiny of the present Government’s past performance.

Whether politically or economically motivated, the BPIF considers the measures announced in the Chancellors Autumn statement will benefit Small businesses within the print industry.

Among those measures most welcomed by the British Print Industry Federation are:

• A support package for SMEs of nearly £1bn, which includes £500m of new bank lending under the Enterprise Finance Guarantee and a £400m extension to Enterprise Capital Funds delivered through the British Business Bank. The Bank of England-backed Funding for Lending Scheme has also been extended to January 2016;
• The announcement that the current double small business rate relief is to remain for another year, with the cap on the annual increase in business rates at 2% for all firms continuing through to March 2016.
• The Chancellor’s announcement that R&D tax credit for small and medium firms will be raised to 230%, which provides a much-needed boost for these companies;
• The abolition of national insurance contributions for apprentices under 25 from April 2016 (coming on top of the existing commitment to abolish NICs for those under 21 from April next year), which should encourage more employers to offer apprenticeships and help boost skill levels in the print industry;
• The £15 billion infrastructure investment to be allocated for roads, which should help ease wasteful delays currently experienced in transporting printed products across the UK’s congested road network and boost growth in the regions.

A BPIF spokesman said, “while tight public finances have clearly left the Chancellor with limited scope this autumn, we are pleased that a number of targeted measures to help smaller firms have been introduced covering lending, business rates, tax credits and infrastructure investment”.