Independent Garage Association (IGA) Response to Government’s Initiative to Boost Small Businesses

The increase in the VAT registration threshold from £85,000 to £90,000 is welcomed, as it will provide relief to 28,000 small businesses, allowing them to invest more in their operations and expand their enterprises.* Additionally, the freeze on the small business rates multiplier for the fourth consecutive year is particularly welcomed as it will safeguard over one million properties from higher bills, contributing to financial stability and security for many garage owners.

As an association representing the independent garages sector, we understand small enterprises’ challenges, especially given current economic uncertainties. These measures not only alleviate some of the financial burdens but also reaffirm the government’s commitment to supporting the backbone of our economy.

“We’re pleased to see the government recognise small businesses’ vital role in driving economic growth,” said Stuart James, the IGA’s Chief Executive. “These initiatives will undoubtedly provide much-needed relief to our members and empower them to navigate these challenging times more confidently.”

The IGA extends its gratitude to the Exchequer Secretary to the Treasury, Gareth Davies, and the government for their proactive approach to addressing the needs of small businesses. We remain committed to working collaboratively with policymakers to ensure the continued success and prosperity of independent businesses across the UK.

ENDS 

NOTES TO EDITORS –

* Boost for small business as VAT threshold raised and rates frozen – GOV.UK (www.gov.uk)

For media inquiries, please contact:

Stefan Wesley

Communications and Marketing Manager

Independent Garage Association

Phone: 01788 538 359

Email: Stefan.wesley@rmif.co.uk