Member Article

FSB London urges new mayor to ‘back the 99%’

The Federation of Small Businesses (FSB) has today launched its London Manifesto for the city’s forthcoming election calling for the next mayor to back the ‘99% of London’s business community’.

After carrying out extensive research amongst its wide membership of nearly 7,000 micro and small firms in the capital, the FSB found that over half (56 per cent) say that business property costs (including rent, rates and availability) require urgent reform and is the critical issue for a new London Government with the Assembly elections too.

Other significant issues for London’s small businesses included transport charging reform, ambitious targets for ultra-fast broadband provision across Greater London and wider business support.

The cost and availability of housing has rapidly become a significant issue for FSB members with 22 per cent saying that it has had a negative impact on small firms’ ability to recruit and retain staff in the last four years.

Recognising the challenges facing workers, our research shows that 1 in 10 firms say that they will look to increase staff wages above and beyond what they would give to staff in bonuses as a result of the housing situation, leaving less money in the pot to take on new employees.

The FSB will be hosting a launch event at SoHost Office and Desk space with four key themes being central to the Manifesto:

• Lowering the cost of doing business in the capital
• Making London a driver of growth across the UK
• Investing in the infrastructure to meet business needs
• Helping London be a leading environment in which to do business

The FSB is calling on the next Mayor to appoint a Deputy Mayor with a micro and small business remit. It says: “This is of particular importance as over 99 per cent of all businesses in London are micro and small-sized.”

Sue Terpilowski OBE, London Policy Chairman, Federation of Small Businesses, said: “The spiralling cost of housing and business premises is a significant barrier to growth, and we are starting to see a ‘flight from the centre’ on the part of established independent small businesses – exactly the type of business that makes London such a special and vibrant place. It is imperative that the new Mayor and Assembly seek proactive ways of helping London’s micro and small businesses to flourish, prosper and grow to maintain its diversity and uniqueness.

“The FSB are calling on the Mayoral and London Assembly candidates to say ‘ibacksmallbusiness’ and understand that they are the very fabric of our communities. They are agile and create jobs faster and in larger numbers than any other kind of organisation can, across every sector.

This was posted in Bdaily's Members' News section by Ellen Forster .