Survey shows need for NI holiday for existing firms

Leone Hill

Unemployment fallen by half in last five years, figures show

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THE Federation of Small Businesses is calling on the government to reduce National Insurance contributions to help the smallest firms.

The FSB’s Voice of Small Business survey, which had more than 1,700 respondents, showed that insufficient work and uncertainty over contracts, the state of the economy, cash-flow and access to finance as well as the cost of credit are preventing them from employing.

Ken Moon, chairman of the FSB’s Wessex Region, said: ‘We have been saying for some time that small businesses would be encouraged to take on staff if NICs were reduced.

‘The government must extend the NICs holiday to existing businesses if small firms are to take on new staff and so help tackle high unemployment.’