Call for chancellor to deliver 'tangible answers' to support Shropshire businesses

Russell Griffin, director of Samuel Wood estate agents, said it has 'undeniably been a turbulent few years' for the industry, with a surge in demand brought about by the need for more living space.

"However, this demand was dampened by 'Truss' economics and multiple increases in Bank of England base rates," he added.

"Although the housing market managed to hold its value in the county, local businesses across Shropshire are affected when we see a decline in the volume of property transactions," said Mr Griffin.

“A positive budget announcement will support the housing market and create demand for various goods and services such as new carpets, curtains, washing machines, and more. This, in turn, has a positive effect on the local Shropshire businesses."

He continued: "In light of these challenges, it is hoped that Mr Hunt will pay attention to corporation tax, provide assistance to small and medium-sized enterprises (SMEs) and for the housing market.

"The inclusion of Stamp Duty incentives would greatly benefit the housing market by instilling confidence. Ultimately, the Government's actions should aim to restore confidence in the market and support the growth of businesses in Shropshire."

Julie Williams, director of the Hollies Bookkeeping Services in Pontesbury, called for the chancellor to deliver 'tangible answers' to 'address the issues affecting everyone' with challenges faced creating a knock-on effect.

"From my own perspective I have just received the most ridiculous electricity bill for the last three months," she said.

"Luckily my landlord has sourced a better deal but it is only 40 per cent less and the bill has more than doubled from this time last year.

"With minimum wages going up this means that everyone’s wage will have to go up by £1.02 per hour.

"This in turn means my hourly rate will have to rise by £2 and this is the minimum I can do to cover it."

She added: "The more I put my prices up the more my clients will panic and start looking elsewhere. In all honesty, I should have put my rates up by £5 an hour to cover all of the rises in costs that I am faced with, but I fear I would lose most of my clients.

"Likewise for my clients, they are now looking at my rates going up along with everything else and whether is it viable to carry on trading.

"Recently, five of my clients have talked to me about closing down their sole trader business and getting a paid job if any are out there.

"My office cleaner has even said with the cost of fuel on the rise again, it is starting to be challenging working out which clients she can go to and when, and she is lumping people together depending on where they are located and then having to do either really long days or nothing at all to save on travel costs."

Stuart Danks, Director of DMOS People, offering recruitment services across the West Midlands, added: “My hope would be a reduction in corporation tax and VAT to create cashflow for businesses. The rising salary costs linked to minimum wage increases and the high inflation rates are killing businesses.

"The Chancellor should be putting everything into helping the future growth of businesses to strengthen the economy, however, I anticipate the new budget will be more geared to the next election, rather than the support businesses so desperately need right now.”

And Spencer Taylor, TCN Head of Operations & Sales UK & Eire, said: "TCN is a comprehensive provider of cloud-based call centre technology and in the UK around 80 per cent of our clients are from the accounts receivables sector.

"We are acutely aware that the industry is dealing with an ever increasing volume of debt as a result of the cost of living rises and sluggish UK economy. At the same time as debt levels have increased, it has also become less collectable due to the fall in disposable income levels and this in turn impacts the economy still further.

"A very unique set of circumstances has led to the economy being in the shape it is in, with the cost of living crisis showing no signs of abating for many. My hope is that the budget announcement provides some real and effective changes to encourage business investment, stimulate economic growth and increase levels of personal disposable income that in turn will reduce the overall debt burden and relieve the stress on many household budgets.”