Will firms seek facilities management cost reduction process as FPB warns that NIC holiday is not enough?
September 8th 16:30 Cost Management
A number of UK firms could be inspired to adopt facilities management cost reduction processes after one industry body claimed a new government initiative does not go far enough.
The coalition recently announced the start of a National Insurance contribution (NIC) holiday, which could save new businesses up to £50,000 in their first year of operation.
However, the Forum of Private Businesses (FPB) has claimed that further cuts are required if small firms are to be at the forefront of a private sector-led economic recovery.
Phil Orford, the forum's chief executive, said: "For years small business taxation has steadily increased, so this reduction in NI for some firms has to be welcomed.
"However, if the government is serious about creating conditions for real economic recovery based on strong small business growth, it needs to introduce even bolder tax policies."
The expert warned that unless further cuts follow the initiative, "disproportionate taxation" will remain a barrier to growth.
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