Regional Retail is Down says Company Formation Survey

When the coalition government first came into power, it was hoped that they would reverse the previous administration’s plans to increase National Insurance. However, once the ‘Emergency Budget’ was announced, the SME sector was disappointed to find that it did not include any provisions to decrease National Insurance for the SME sector.

However, it did contain some concessions for companies outside the south and south west ; offering them a reduction in National Insurance for their first ten employees. This, combined with the fact that the government has pledged to completely change the way in which regional enterprise is handled by local government indicates that David Cameron’s coalition has placed supporting regional enterprise firmly on the political agenda – and it’s not a moment to soon, if the findings of a recent report are to believed.

A recent report, conducted by the Form of Scottish Retail, shows that on average Scottish retail revenue is down by almost two per cent compared with last year’s result – this is the lowest figures have been down in over a decade.

This report should ring alarm bells for the government, who have pledged to support and stimulate enterprise in the UK