Calls for SME cost relief ahead of Autumn Budget

Simply has called on the Chancellor to tackle the everyday costs facing UK SMEs in today’s Autumn Budget, warning that access to finance alone is not enough to encourage business investment.

Ylva Oertengren, Co-Founder and Chief Operating Officer at Simply, is urging the Government to introduce targeted National Insurance relief, simplify regulatory compliance and provide greater certainty around investment incentives to help smaller businesses pursue their growth plans.

With SMEs continuing to face pressures from employment costs, energy bills and borrowing expenses, Oertengren argues that reducing the cost of running a business is essential to restoring confidence and unlocking investment.

“SMEs need a Budget that makes it easier to act on their growth plans. The Chancellor cannot fund growth alone, but the Government has the ability to reduce the costs and practical obstacles that suppress productivity,” she said.

Finance and operating costs must work together

Oertengren highlighted the importance of addressing operating costs alongside access to funding, particularly for businesses looking to invest in new machinery and equipment.

“For a smaller manufacturer, financing new machinery is only part of the running costs: it also needs to make ends meet with employment, compliance and energy costs. Asset finance might spread the cost of an upgrade, but owners still need confidence that they can afford the ongoing commitment outside of their everyday costs.”

She stressed that access to finance and support with operating costs must work together if businesses are to realise their growth ambitions.

Among Simply’s priorities for the Budget are targeted measures to reduce the National Insurance burden on smaller businesses, alongside efforts to eliminate duplicate reporting requirements and simplify compliance.

Such measures, Oertengren argued, would enable SMEs to retain more resources for investment rather than spending time and money on administration.

Long-term certainty needed for investment

Oertengren also called for stable investment incentives, with clearer rules around qualifying equipment and how support applies to purchases funded through asset finance.

She emphasised that incentives must be straightforward to access, with businesses able to understand their eligibility, the duration of support and how it interacts with existing finance arrangements.

“The Chancellor needs to be offering commitments that SMEs can build their plans around, rather than promises that fade with the Budget headlines,” she said.

With the Autumn Budget set to outline the Government’s latest fiscal priorities, Oertengren warned against measures that provide only temporary relief without addressing the underlying pressures affecting business confidence.

“The real test of this Budget is whether it brings lasting relief to the everyday cost of doing business, not just a short-term fix. Energy bills, taxes and borrowing costs are the pressures SMEs feel week in, week out, and easing them in a meaningful way would free up time, cash and confidence.

“If the Chancellor can make running a business more affordable for the long term, firms will be in a far stronger position to plan ahead, protect jobs and invest when the time is right.”