With the Autumn Budget still fresh in everyone’s memory, the latest Breakfast Exchange event sought to explore its effect on businesses in Bath.
The latest instalment in the popular series, created collectively by The Business Exchange, Thrings Solicitors and accountants Richardson Swift, saw more than 80 professionals in attendance from across the city as the event returned to The Ivy on Wednesday, 6 November.
The expert panel, chaired by The Business Exchange editor and founder Anita Jaynes, was joined by Ed Van Rooyen, founder of wellbeing insight company T-Cup and Dan Smith, co-founder of South West Business Finance, as the hot-off-the-press topic was explored with a Bath-centric view.
With discussions starting around the initial reactions to the Budget announcement, the panel went on to talk about what concerns businesses have had regarding the changes to the likes of National Insurance, the National Living Wage, Capital Gains Tax and Inheritance Tax.
Dan Smith, co-founder of South West Business Finance, said: “It was a pleasure to be invited to take part in the panel and discuss what is still a very real and raw issue for local business owners. From our perspective, it will be a few weeks before we have the chance to see a real breakdown of the Budget and what it means in terms of funding so we will be looking out for any supporting detail with great interest.”
Ed Van Rooyen, founder of T-Cup, said: “Whilst not a shock, many features within the Budget will not be something business owners will welcome, and will put a great deal of strain on their decision-making for the weeks, months and years ahead. What was positive about today’s event was that Bath’s businesses do have an evident sense of community and are willing to share, discuss and support each other in the face of challenge.”
Also joining the panel were Thrings’ Head of Corporate John Davies and Richardson Swift Director Calvin Healy, who brought their expertise on how they would recommend Bath businesses could look to thrive despite the pressures that the changes pose.
John Davies, Head of Corporate at Thrings, said: “It was great to see so many people join us at The Ivy for this latest event and contribute to a constructive discussion around the Budget and both the pros and the cons. Having supported so many business leaders in preparing for whatever the government threw at the corporate and commercial world, the work now begins on adjusting to this new political landscape and it was positive to see everyone so engaged.”
Calvin Healy, Director at Richardson Swift, added: “With the Budget so fresh in everyone’s memory, it was clear everyone came wanting to discuss how the tax and employment changes will impact their business. It was good to see the panel and the audience all partake in a more holistic conversation that looked at these measures across both a short and long-term view.”
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