Federation of Small Businesses publishes annual report
The Federation of Small Businesses (FSB) has published its annual report and financial statements for the financial year 2023 to 2024 following its annual general meeting.
The report highlights the UK’s grassroots business organisation’s main achievements over the year, including supporting its members with benefits such as business banking, legal support and healthcare, and its successful advocacy achievements, including raising the VAT threshold; cutting national insurance for the self-employed; and a achieving a freeze on the business rates multiplier. It also outlines how FSB influenced political parties to put small businesses at the front and centre of their General Election manifestos.
The FSB annual report also includes fascinating features and photography of FSB members and their small business journeys; these are an enviro-engineering business in London; a neon sign business in Bolton; a roofing business in Sheffield and a sustainable curly-hair specialist salon in Wimborne.
FSB National Chair Martin McTague said: “Campaigning and giving our members a powerful voice to political decision-makers were at the heart of FSB in what became a general election year. The importance, breadth and effectiveness of this was crucial in 2023/24, with a backdrop of small firms struggling with a range of costs, taxes and barriers; a small business population 500,000 smaller than before the COVID-19 pandemic; and political instability and uncertainty.”
FSB Chief Executive Julie Lilley said: “2024 marked 50 years since FSB was established. Beginning as a collective of self-employed people who came together to rally against a proposed tax hike for the self-employed, FSB was founded in Lytham St. Annes, Lancashire, in 1974. Fifty-years on, FSB is viewed as the most influential grassroots organisation representing small businesses and the self-employed in the UK.
“There’s a unique passion that affects all of us who are part of FSB – the members, volunteers and staff. We do what we do to have a real impact on making the UK one of the best places in the world to start and grow a smaller business.”
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