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London and South East SMEs laud business rates reform

Small Business Colleagues - Raising of the threshold for small business rate relief - SantanderCB

Wednesday's Budget has been lauded by business leaders and SMEs in London and the South East as good news for small businesses. Reaction has focused on one of the headline announcements, the raising of the threshold for small business rate relief. Tomer Guriel, CEO of fintech firm EZBob, said the move will provide a significant boost to thousands of businesses. 'Today's Budget announcement is good news for small businesses,' he said. However, Guriel believes the government could go further in reducing the stranglehold that traditional banks have over SME lending by promoting the benefits of alternative lending. This, he believes, will 'pave the way for a productive environment for entrepreneurs, a productive workforce and a productive economy'. He added: 'Going forward it would be good to see the government take this further and help those same small businesses access the additional working capital they need to accelerate their growth plans.'

 

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