NatWest: Small businesses stay strong

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NatWest: Small businesses stay strong

Wed 6th Feb 2008

Small businesses are strong enough to withstand changes to capital gains tax, NatWest has claimed.

Steve Pateman, chief executive of NatWest and RBS Business Banking, said that "staying ahead of the competition" was the main concern of smaller firms and added that these businesses "have rightly prioritised the issues within their control".

And the latest NatWest and RBS Small Business Monitor reveals that only seven per cent of small companies were planning to sell to avoid paying higher tax, following the changes.

However, certain industries were revealed as being more vulnerable, with 23 per cent of hotels saying they were considering selling and 12 per cent of businesses in both the transport and communications sectors.

Mr Pateman added that "most" small business owners "are in it for the long haul" and are not about to sell up due to capital gains tax reforms.

Meanwhile, Nationwide released research today stating that consumer confidence is continuing to fall.

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