Rachel Reeves' Spring Statement 2025: Enterprise Nation's small business wishlist

Enterprise Nation is calling for the government to unveil a world-leading vision for universal digital small business support in the Spring Statement.

Rachel Reeves is set to deliver her Spring Statement on 26 March and while the chancellor has been keen to emphasise it is not a fiscal moment, there are key things she could do to ease the impact of the 2024 Autumn Budget for small businesses, which kick in next month, to create a fresh and positive economic outlook.

The 140,000-strong small business community and business support platform believes the chancellor should announce a vision for world-leading universal digital business support that leverages artificial intelligence and open finance to plug in advice to help businesses as they start and grow.

Working in partnership with the private sector's already tried and tested technology in this space will deliver a new generation of smart business support to help futureproof the UK's small business community against future shocks.

Enterprise Nation members would also like to see an easing of the impact of the National Insurance changes on the smallest firms, such as those on the high street, through a limited sector-specific increase in the Employer Allowance.

Rather than a blanket policy, it could specifically apply to small independent businesses that are also hit by the decrease in business rates relief for retail, hospitality and leisure on 1 April. It will be reduced in England from 75% to 40%.

Small gestures like these could help remove some of the barriers to growth for the very firms that are in the early stages of developing their recruitment plans in a new tax regime.

Emma Jones CBE, founder and CEO of Enterprise Nation, said:

"How does the UK become a global beacon for its delivery of smart business support?

"Business support technology is a powerful resource that is evolving quickly. By offering universal access for small firms to a digital self-serve business support platform, powered by AI and Open Finance, the government could deliver frictionless support to connect businesses to support programmes and trade opportunities, plus access to finance.

"More broadly we think there have been some very positive announcements made recently that will strengthen the small business community over the longer term.

"Things like the opening up of government contracts to allow more small firms to apply and win them via the new Procurement Act, the roll out of the High Street Rental Auctions pilot and changes to side hustle tax reporting requirements.

"While we know the chancellor's hands are largely tied, we think offering discretionary enhanced de minimis easing of the increasing cost of employment through the Employment Allowance would be widely welcomed.

"By fine-tuning employer tax in this way, the chancellor would deliver a clear signal that the government understands and backs the UK's 5.5 million small business owners in this new era of global instability we find ourselves in today.

"Entrepreneurs are always resilient, but they will need help to navigate the road ahead. By championing small businesses through prioritising digital adoption and high street revival, the government could potentially improve small business confidence at a critical moment."

Full Spring Statement small business wishlist

Access to markets

• Track government procurement contracts that are awarded to strategic suppliers who go on to spend with SMEs in their own supply chain. Endorse comprehensive support programmes to empower small businesses to effectively participate in government procurement processes, ensuring compliance with The Procurement Act.

• Ensure UK Export Finance (UKEF) is sufficiently resourced to meet its target of supporting 1,000 SMEs per year by 2029.

• Re-introduce the Tradeshow Access Programme.

Access to technology

• Make the UK a world leader in universal digital business support by leveraging artificial intelligence and open finance to plug in advice to help businesses as they start and grow.

• Reward businesses for adopting technology with new financial support modelled on Singapore's Go Digital and South Korea's Digital New Deal programmes.

• Offer targeted tax incentives, and time-limited subsidies, to support businesses with the cost of adopting AI and technology.

• Invest in new training programmes and support designed to introduce small business owners to emerging technology, and to ease their concerns where legal reasons are stopping them from using the tech effectively.

• To help increase AI adoption, launch campaigns to promote the benefits of using AI for small business owners.

• Prioritise the nationwide adoption of eInvoicing to boost UK's digital economy.

Access to finance

• Build on recent progress to stamp out late payments by mandating 30-day terms to larger firms procuring from smaller ones.

• Expand the Making Tax Digital scheme to include companies with a turnover of less than £20,000 per annum.

Access to people

• Offer a limited sector-specific increase in the Employer Allowance. Rather than a blanket policy, it could specifically apply to small independent businesses that are also hit by the decrease in business rates relief for retail, hospitality and leisure on 1 April. It will be reduced in England from 75% to 40%.

• Continue the delivery of existing mentoring business support programmes.

• Build a skills engine for growth by co-funding a collaborative Talent Hub for small businesses.

• Improve existing support programmes to help older workers transition from unemployment into self-employment.

• Conduct a review on the feasibility of small business tax incentives to upskill their workforce.

Access to space

• Act quickly to extend the High Street Rental Auctions pilot and bring it into action, empowering small businesses and revitalising Britain's high streets.

• Introduce a levy on commercial-to-residential transfers to discourage tax motivated shifts from commercial to residential property.