What Concerns You Most About The Budget For Family Businesses?

Chancellor Rachel Reeves’ budget promises greater investment in innovation but some of the proposed changes are already causing concern for many UK family businesses.

Chancellor Rachel Reeves’ budget promises greater investment in innovation but some of the proposed changes are already causing concern for many UK family businesses.

Here at Family Business United we appreciate the concerns but also recognise that family firms have weathered many changes over their lifetime and have a resilience as organisations that is part of their very DNA. We want to gauge the views of the nation on the key issues that we know are causing concern in order to prioritise the resources we develop and deliver to support family firms as they seek to plan appropriately for their future.

Please select the most pressing concern for your family business and help us to determine the new agenda for UK family businesses in order to develop materials to help them address these concerns.

From a family business perspective what is the biggest concern as a result of the Autumn Budget?

• 0%Increase in employers National Insurance Contributions
• 0%Increase in rates for Capital Gains Tax
• 0%Agricultural & Business Assets over £1 million & Inheritance
• 0%Increases in National Minimum Wage

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As Paul Andrews, Founder & CEO of Family Business United explains, "Family firms are the engine room of the UK economy and operate in all sectors of the economy and need support to ensure they survive for generations to come, continuing to generate income, create wealth and employment and support the communities in which they make a positive impact each and every day."

"For many, some of the announcements will come as a real shock and be causing immediate concerns and as an organisation that champions what they do and celebrates their contribution to the national economy each and every day, we need to do something to help them plan for the future. We will use the findings to create our agenda to develop resources, share new insights and innovations in terms of moving forward and continue to support them in every way possible."

"For many, this will be a worrying time and our community needs to pull together and continue to develop frameworks and have conversations to plan for the future and minimise the potential impacts of some of the changes that were announced today."