This weekend we celebrate Small Business Saturday, a day where we show our appreciation for the important role that our small business play in our communities.
With the buildup to Christmas, it can be very tempting to shop exclusively online to help get presents or food preparation sorted.
However, we must not forget the impact that Small Businesses have on our community, and it is important to recognise and support them.
Helping our local businesses is something that we can all play our part in.
Rather than looking to big, online retailers, we can take time to support our small businesses on the high street, or we can even support them via their websites.
Unfortunately, our small businesses here in Wales have come under ever increasing pressure.
Last year, the UK Conservative Government provided 75% relief for businesses in the hospitality, retail and leisure sector in England, but that same support for businesses was not passed on by the Welsh Government with Welsh businesses only getting a 40% relief.
This means that businesses in Wales were paying double the business rates compared to their counterparts in England.
Now, Labour’s rise in national insurance contributions will put even more pressure on our small businesses, which in turn will lead to higher prices, job losses and reduced investment.
Our small businesses do not expect massive payouts or billions of pounds in loans, they just want an economic environment where their hard work and investment pays off.
Sadly, this isn’t the case in Wales under Labour, and I’m now concerned this won’t be the case for the whole United Kingdom under Labour.
Next week, the Welsh Government will be publishing its budget, and we must see business support for the hospitality, retail and leisure sector matched to England.
It is no wonder that Wales lost 17% of its licensed hospitality venues since the start of the pandemic, more than in England and Scotland.
I don’t want to see businesses disadvantaged for doing business on this side of the border.
I am so proud of our small businesses here in Wales, and the entrepreneurial spirit that so many people have shown.
So, this Christmas, I hope that we all take time to support our small businesses who play such an incredible role in our community.
Peter Fox MS - Monmouth
