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Liberal Party Supports SME’s to Grow and Prosper

To support SME’s we urge government to:

  1. Raise the threshold for registration for VAT to 150k pa from its current 85k.
  2. Employees should automatically opt in for work place pensions to reduce needless admin.
  3. Free up to 1.2 Million SMEs from paying Corporation Tax rate (over 80% of companies) by lifting the minimum threshold to £100,000. (Raise rate from 19% to 20%)
  4. For startups, the party would create a new “startup allowance” to help those businesses specifically with their “living costs”, and would also support fast-growing businesses seeking to scale up. 
  5. Work with major banks to fund the creation of a local banking sector (regional mutual banks), dedicated to meeting the needs of local small and medium-sized businesses. In addition, expand the British Business Bank to perform a more central role in the economy, to ensure that viable small and medium-sized businesses have access to capital. (At least one regional mutual bank in every region i.e. Cornwall)

If you have ideas on how to promote small businesses, please a mail us at