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Written question asked by Blake Stephenson (Conservative) on Wednesday, 14 May 2025, in the House of Commons. It was due for an answer on Friday, 16 May 2025. It was answered by James Murray (Labour) on Thursday, 22 May 2025 on behalf of the Treasury.

Small Businesses: Labour Migration

Question

To ask the Chancellor of the Exchequer, if she will make an estimate of the number of SME owners that have left the UK since 5 July 2024.

Answer

Business Population Estimates show trends in the number of businesses in the UK by size, alongside sectoral and regional distribution: https://www.gov.uk/government/statistics/business-population-estimates-2024/business-population-estimates-for-the-uk-and-regions-2024-statistical-release.

The ONS also publishes data on business demography, showing the annual change in the number of UK businesses (“birth” and “death” rates): https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/bulletins/businessdemography/latest.

At Autum Budget 2024, the Government announced generous tax reforms to support small businesses including: more than doubling the employment allowance to £10,500; commitments in the Corporate Tax Roadmap to maintain the Small Profits Rate and marginal relief at their current rates and thresholds; and freezing the small businesses multiplier for 2025/26.

The Government has also committed £250m in 25-26 for the British Business Bank’s small business loans programmes, including Start Up Loans and the Growth Guarantee Scheme.

Secondary information

Type
Written question
Reference
52393
Session
2024-26
Subjects
Small businesses Labour migration
Contains statistics
Yes
Link
View this Written question on www.parliament.uk