Government taxation 'is barrier to growth of SMEs'
Commercial insurance
7th October 2008
The government could do more to help small to medium-sized enterprises (SMEs) as well as banks in the UK's current financial crisis, it has been claimed.
Expenses such as shop insurance and liability insurance may be even more important to retailers as they try to make their businesses successful during the credit crunch.
The Institute of Chartered Accountants for England and Wales says that the government could help SMEs with "less changes in the tax system".
Clive Lewis, head of SME issues at the Institute of Chartered Accountants in England and Wales (ICAEW), said that "regulation is a significant barrier to growth and not just regulation, it's constant change in regulation and taxation".
The UK Enterprise Survey Report 2008 from the ICAEW also found that many companies said the credit crunch had increased borrowing costs.
