Responding to the Prime Minister’s speech at Labour Party Conference, Fiona Graham, Chief Operating Officer at Family Business UK, said:
“There has been a strong emphasis on hope and optimism in Liverpool this week, and the Prime Minister’s focus on a long-term vision for the economy is welcome. Family businesses want to share that optimism, but they need stability, certainty and the confidence to plan for the future.
“Making it easier for British businesses to access public procurement and putting greater power in the hands of local leaders could offer real opportunities. Family firms are firmly rooted in the places they serve, creating jobs, investing locally and supporting communities for generations.
“But ambition must now be matched by action. The speech was light on how the Government will tackle the cost of doing business, and attention will now turn to a critical Autumn Budget at the end of the month.
“Family businesses are already dealing with the consequences of changes to Business Property Relief. The Budget is an opportunity for the Government to rebuild confidence and create the conditions family firms need to employ, expand and invest for the long term.
“Family businesses want to work collaboratively with the Government and are ready to play their part in delivering growth. But optimism cannot be built on rhetoric alone. It will depend on the choices the Government makes and the confidence those choices give businesses to invest in the future.”