The Federation of Small Businesses (FSB) has branded the forthcoming Autumn Statement as a pivotal juncture for the Government to reaffirm its dedication to the small business sector.

According to the business group, the Chancellor should take a stand against late payment culture and provide more support for the self-employed and high streets.

This timing - a month before the speech on 22 November - emphasises the speech's prospective role as a catalyst for robust economic resurgence and expansion, a goal that current circumstances have struggled to realise, with a myriad of sectors, from hospitality to construction, grappling with challenges.

National chair of the FSB, Martin McTague, said:

"This Autumn Statement cannot be business as usual. There's exactly one month to go until the Chancellor delivers his speech, and we need focussed action. With inflation barely budging, the Chancellor has a golden opportunity to spur the economic vitality the UK needs.

"We need clear plans to help small businesses grow. Whether it's a corner shop or a web designer, a hotel, or a car garage, they are all crucial. Small firms were key to helping the economy bounce back in 2008, and to replicate that, we need to face this issue head on.

"The Government must act swiftly to end late payments, extend business rates relief, and eliminate the perverse disincentive against acquiring new skills. The future of our economy is at stake, and there's no room for half measures."

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