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WITH the ‘emergency’ Budget less than two weeks away, and rising cost fears over potentially damaging tax hikes, small businesses are having their confidence dented, according to the latest survey from the Forum of Private Business.
The Forum is warning that the struggling small business sector – widely regarded as the catalyst for economic recovery and growth – must not suffer unduly as a result of the difficult steps necessary to re-balance the economy.
In all, 37 per cent of business owners surveyed said the cost of doing business – excluding tax – has increased. Almost a quarter said the tax burden has increased and 28 per cent believe that existing levels of taxation are too high.