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Will Boris be bad for business?

  1. Boris Johnson is heading for No.10
    James Martini

    James Martini UKBF Ace Staff Member

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    “F*ck business.” Yesterday marked a year to the day since Boris Johnson mouthed off at the business community and yet 12 months on, the fair-haired Conservative backbencher is poised to become the new Prime Minister. 

    Johnson’s aides shrugged off last June’s impromptu aside as a swipe at lobbyists who were pressing the then-foreign secretary over fears of widespread job losses at Airbus and BMW in a post-Brexit era.

    The 55-year-old’s tirade shocked business leaders and for some highlighted the widening chasm between entrepreneurs and the Tories, who previously took pride in being the ‘party for business’. 

    Following on from last week’s televised hustings, Johnson told around 40 business leaders that he “had always loved businesses” – and most of the attendees reportedly believed him. 

    While his Brexit rhetoric is what grabs the headlines, there are a host of domestic issues affecting the business community in the UK that also need addressing with confidence levels remaining pessimistic. 

    ‘Unfit’ business rates

    “The business rates system is unfit for purpose, causing disproportionate hardship to some small businesses – including many of those on our high streets,” the Federation of Small Businesses (FSB) chairman, Mike Cherry, exclusively told UKBF.

    High business rates are a factor in the large volume of retail failures seen on high streets around the UK in recent years, and Chancellor Philip Hammond delivered a £1.5 billion cut in business rates in last autumn’s Budget. 
    The Treasury believes the reforms announced last October will ensure the business rates system is fairer once it has had time to bed in, lowering business rates bills by £13bn over the next five years. 
    Revalutions are done every three years, but there are fears that any longer than one year between revalutations results in business rates lagging behind economic cycles and property prices. 

    Spiralling costs 

    Cost pressures on businesses in the UK remain high, with tax changes, workplace pensions and the national living wage driving up employer expenses over the last decade. 

    “Tax is far from the only cost of doing business,” said Cherry. “Employment costs have been rising in recent years, including the introduction of auto-enrolment pensions and increases in the national living wage.”

    In 2011, employers did not have to contend with workplace pensions (those arrived a year later), while minimum wage levels were significantly lower. 

    In October 2012, auto-enrolment compelled employers to put 1% of an eligible employee’s wage into their workplace pension. In the last two years, employers have seen that minimum contribution rate rise to 3%. 

    The national living wage for over-25s stood at £6.08 an hour in October 2011, for 2019/20 it is £8.21. Cherry said: “Since 2011, the average cost increase as a result of a range of government policies has been around £60,000 for each small firm.”

    Infrastructure, training and tech

    Investing in infrastructure should be another priority for the next PM – “from roads and railways to broadband” – Cherry told us. “Poor infrastructure costs small firms time and money, and has a hugely detrimental impact on productivity.”

    Then there’s a focus on training and skills. Improving the digital skills of existing entrepreneurs and those of young people should be on the agenda, especially with businesses slow to embrace the complexities of the apprenticeship levy.
    “For small business to develop and grow, they must have access to the workers and skills needed to achieve that,” added Cherry. “Technology will bring huge opportunities, but also some real challenges and change in the world of work.”
    Should Boris see off Jeremy Hunt to succeed Theresa May as the next PM in the coming weeks, there are plenty of business issues to resolve – assuming he doesn’t put his foot in it first. 

  2. scarlettSmith

    scarlettSmith UKBF Newcomer Free Member

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    Has Boris Johnson impacted the stock market?
    The UK market is still showing some good opportunities for investors. And according to uk stock market news and research prediction the next PM would be open to a no-deal Brexit which may help to generate a decline in the Pound, causing anxiety in many local companies.
    SO i guess it will be good for UK investor's.
    Posted: Jul 9, 2019 By: scarlettSmith Member since: Jun 28, 2019

    JEREMY HAWKE UKBF Legend Full Member

    5,021 1,677
    I respect Boris for speaking the truth and being honest with us
    So F£$£ Boris
    Posted: Jul 16, 2019 By: JEREMY HAWKE Member since: Mar 4, 2008
    Luke Hinckley and Paul FilmMaker like this.
  4. Paul FilmMaker

    Paul FilmMaker UKBF Contributor Free Member

    86 21
    My ex-wife knew him a little. Told me she chatted a bit to him 20 or 30 times, something like that as she worked for one of his best mates. Her impression is BoJo's in it for BoJo. He'll turn whatever way he wants to in order to get power and money and at the moment, he's embracing policies which are anti-business. For example, Brexit, in any form, will seriously hurt my business.

    He said F%^k business. For me, that suggests he's anti-business.
    Posted: Jul 26, 2019 By: Paul FilmMaker Member since: Aug 29, 2018

    JEREMY HAWKE UKBF Legend Full Member

    5,021 1,677
    It is alleged that many ex wives know him . Hence the reason they became Ex wives
    It is only what I heard I never said it :confused::confused::cool:
    Last edited: Jul 26, 2019
    Posted: Jul 26, 2019 By: JEREMY HAWKE Member since: Mar 4, 2008