One in Five SMEs Forced to Cut Staff as Tax Burden Weighs

Rising tax and cost pressures has forced one in five SMEs to cut staff - Credit Connect

Rising tax and cost pressures forced more than one in five (21%) SME bosses to lay off staff last year, according to a survey commissioned by Rathbones. A targeted poll of more than 1,000 SME founders, owners and senior executives reveals a challenging landscape for business leaders, with cost pressures – including business rates and national insurance contributions – weighing heavily on firms and contributing to redundancies. Nearly six in ten …

One in five SMEs cut staff as tax and cost pressures intensify, survey finds

Rising taxes and operating costs forced more than one in five UK small and medium-sized enterprises (SMEs) to make redundancies last year, underlining the growing strain on business owners as financial pressures mount. A survey commissioned by Rathbones, one of the UK’s largest wealth and asset management groups, found that 21 per cent of SME leaders were compelled to cut staff in response to higher costs and tax burdens. The poll of more than 1…

One in five SMEs forced to cut staff as tax burden weighs