New figures published today show that 2000 businesses in Stratford-on-Avon are benefitting from the Government’s Employment Allowance.
From April this year businesses have been able to apply for a National Insurance reduction worth up to £2000, which they can use to help take on a new employee, hire an apprentice, or invest the money back.
Up to 1.25 million businesses can benefit from the Employment Allowance. Today’s figures show that since it was introduced over 850,000 businesses have already registered. Over 90% of the benefit of the Allowance will go to small businesses.
Backing small businesses with lower taxes has helped create more than 1.8 million new jobs and contributed to the biggest annual fall in unemployment since records began. There are now a record number of people in work with the security of a regular pay packet.
Whilst many businesses have registered for the Employment Allowance since April there are still businesses who are entitled to it who have not. Almost any business paying Class 1 National Insurance is eligible. Businesses should visit: www.gov.uk/employment-allowance to find out more.
Commenting, Nadhim said: "It’s fantastic news that 2000 businesses in Stratford-on-Avon have taken up the Government’s Employment Allowance. As someone who’s worked in small business, I know just what a difference £2000 can make. It means more money to put back into the business, more money to create jobs and opportunity for other people.
"Small businesses are the backbone of our economy and I’m determined to do everything I can to support them. It’s very encouraging that take-up has been high in Stratford-on-Avon, but I want to make sure that every business eligible for the Employment Allowance has a chance to claim it, so if you aren’t sure please contact me to find out more."