Small businesses have been through “hell” in recent years and politicians should step in to help, an Isle of Wight councillor has said.
Fairlee and Whippingham representative Matthew Price submitted a motion calling on the Isle of Wight Council to support small businesses and ask Westminster for assistance.
The appeal, due to be discussed and voted on at County Hall’s 6pm Full Council meeting this Wednesday, urges a ‘review’ of ‘current impositions’ on Island enterprise.
Lifting pressure would ‘encourage growth’ and make the Isle of Wight more appealing as a place to set up shop.
The submission said:
“The IW Council recognises that small businesses on the Island are of huge importance to the local economy and account for over 60 per cent of all employment.
“The council recognises the huge financial burden any increase in employers’ national insurance contributions will put on businesses.
“It is now crucial that the council asks government to support our small businesses specifically on the Isle of Wight and actively seeks financial help for the retail sector in particular.
“This help can come in many forms but for example parking concessions have been proven to bring shoppers back into retail areas of cities, towns and villages.
“Unsecured and government-backed loans need to be introduced at this time when businesses are least likely to be able to secure funding or afford what is available through mainstream lenders.”
Explaining his call for action, the Newport garage owner added:
“It’s a bit of a reaction to the budget, being a businessman. It’s not a political thing.
“We’ve been through hell the last few years with the rise in the minimum wage, getting through COVID and all the things we all had to do to survive.
“At the end of the day it comes simply down to economics – the biggest employer on the Isle of Wight are small businesses.
“If you lose lots of them, you lose peoples’ income, you lose livelihoods and you’re only going to put more pressure on the welfare system.”
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