The 2026 Spring Statement has failed to deliver meaningful support for small businesses already grappling with rising costs, frozen allowances and a fragile economic outlook, according to one accountant specialising in SMEs.
Responding to the Chancellor’s announcement, Nic Lonsdale of Ginger Bucks Accounting described the Statement as “heavy on waffle and light on practical change” at a time when business owners need clarity and decisive action.
“There was a great deal of language around supporting businesses, households and working people,” said Lonsdale. “But small businesses are working people too. Owners are employers, risk-takers and taxpayers. When policy overlooks that, it misses the reality on the ground.”
While inflation remained a dominant theme in the Chancellor’s speech, Lonsdale said many firms are already absorbing significant financial strain. “Controlling inflation is important, but it cannot be the only drum being beaten. Growth is forecast to remain slow through 2026, and from April businesses are facing rising wage bills and higher tax burdens. Frozen allowances are quietly costing founders thousands of pounds more each year. That is real money coming straight off the bottom line.”
Lonsdale also pointed to the cumulative pressure of global economic instability, warning that domestic cost increases compounded by international uncertainty are creating heightened stress for small firms. “You cannot separate the UK economy from the state of the world. When margins are already tight, every additional pressure point matters.”
With unemployment still elevated compared with pre-pandemic levels, she argued that more decisive intervention is required to unlock small business growth and job creation. “Small businesses want to hire and invest, but many simply cannot afford to. That lack of investment feeds directly into higher unemployment and slower growth.”
She added that targeted investment in apprenticeships could offer a practical and immediate solution. “Investment into apprenticeships is so important because it literally solves both problems. It creates routes into work while giving small firms access to developing talent in a structured, affordable way. It supports employment, productivity and long-term growth all at once.”
Lonsdale concluded that while fiscal stability is important, it must be paired with tangible measures that support the UK’s smallest firms. “Stability alone is not a strategy for growth. If Government genuinely wants to strengthen the backbone of the economy, it must move beyond rhetoric and deliver policies that recognise small businesses as both employers and the engine of economic recovery.”
Media Contact:
Danielle Windecker-Hilton
Sycamore Communications
danielle@sycamorecommunications.co.uk
07704.763269
ENDS
“There was a great deal of language around supporting businesses, households and working people,” said Lonsdale. “But small businesses are working people too. Owners are employers, risk-takers and taxpayers. When policy overlooks that, it misses the reality on the ground.”
While inflation remained a dominant theme in the Chancellor’s speech, Lonsdale said many firms are already absorbing significant financial strain. “Controlling inflation is important, but it cannot be the only drum being beaten. Growth is forecast to remain slow through 2026, and from April businesses are facing rising wage bills and higher tax burdens. Frozen allowances are quietly costing founders thousands of pounds more each year. That is real money coming straight off the bottom line.”
Lonsdale also pointed to the cumulative pressure of global economic instability, warning that domestic cost increases compounded by international uncertainty are creating heightened stress for small firms. “You cannot separate the UK economy from the state of the world. When margins are already tight, every additional pressure point matters.”
With unemployment still elevated compared with pre-pandemic levels, she argued that more decisive intervention is required to unlock small business growth and job creation. “Small businesses want to hire and invest, but many simply cannot afford to. That lack of investment feeds directly into higher unemployment and slower growth.”
She added that targeted investment in apprenticeships could offer a practical and immediate solution. “Investment into apprenticeships is so important because it literally solves both problems. It creates routes into work while giving small firms access to developing talent in a structured, affordable way. It supports employment, productivity and long-term growth all at once.”
Lonsdale concluded that while fiscal stability is important, it must be paired with tangible measures that support the UK’s smallest firms. “Stability alone is not a strategy for growth. If Government genuinely wants to strengthen the backbone of the economy, it must move beyond rhetoric and deliver policies that recognise small businesses as both employers and the engine of economic recovery.”
Media Contact:
Danielle Windecker-Hilton
Sycamore Communications
danielle@sycamorecommunications.co.uk
07704.763269
ENDS