The policy outlook for small business became clearer last week with the end of the Conservative-Liberal Democrat Coalition Government, and the election of a majority Conservative Government now free to implement their singular vision for Britain without the need to negotiate with another political party.

Politicians tend to campaign in poetry and govern in prose, so promises are just that for now, but the Conservative’s Small Business Manifesto suggests a bright future for businesses that want it.

The Conservative’s stated ambitions in their manifesto are to see 600,000 business start ups per year, the trebling of start up loans and the cutting of £10 billion of red tape, ensure that one third of all government contracts go to SMEs, increase the business rates retail discount to £1,500, set the small business rate at 20p and establish a Small Business Conciliation service to help in disputes.

The Conservatives want to deliver full employment, doing this through 3 million apprenticeship places and 2 million new jobs, while pledging the most competitive tax regime of any major economy, not raising income tax, VAT or National Insurance, and ensuring that National Insurance Contributions (NICs) are no longer payable for under 21’s or for apprentices under 25.

The Coalition’s final Budget launched a review of business rates which will be concluded by the end of 2015. Buckinghamshire Business First will be submitting a response to this consultation in time to meet the 12 June deadline and we welcome the views of our members in shaping that response.

A review of the challenges faced by the self-employed is to be launched. Buckinghamshire Business First will submit a response to this review and will be asking for members’ views once the review is confirmed.

Prior to the election, Ministers made reference to county and regional devolution. With a City Devolution Bill likely to feature in the Queen’s Speech, Buckinghamshire Business First will be lobbying for the widest possible definition of “City” to be used to allow Buckinghamshire to benefit from any new local autonomy.

Infrastructure features prominently in the manifesto, including a commitment to deliver “near universal superfast broadband by the end of the Parliament” and affirmation of a commitment to build HS2 and HS3.

With a majority Conservative Government comes the promise of an in-out referendum on EU membership by 2017. The manifesto is clear, the Conservatives say “yes to the Single Market: yes to turbo charging free trade”, going beyond this to argue for an expansion of the Single Market and to “break down the remaining barriers to trade”. Although saying “yes to a family nation of states”, the manifesto rejects the idea of “ever close union”, along with the Euro, a Euro bailout, a European Army and “constant flow of power to Brussels.” The Conservative’s can be expected to negotiate a new settlement for Britain in Europe and use that as the basis for 2017’s referendum.

To respond to the Government’s business rates review, email us at rupert@bbf.uk.com with the title ‘Business Rates’.  Businesses can also submit their responses separately.