This past weekend marked Small Business Saturday, highlighting the importance of small businesses in our communities. This year, it is more important than ever to support Monmouthshire businesses, especially those affected by recent flooding in the run-up to Christmas.
The last few weeks have been unimaginably difficult for many, yet despite these challenges our business community has shown immense resilience and resolve.
I met with business owners in Monmouth last week who were keen to share that they are open and encouraging people to return. It has a great High Street with plenty to offer.
With one large supermarket now open and the other opening this week, people will be able to prepare for Christmas as usual and explore what the town offers, especially with free festive parking.
I have always stood up for small businesses and, while I welcome the financial support announced by the Welsh Government for flood-affected firms, I want to see further help to ensure full recovery.
As a wider community, we can provide additional support to keep our local small businesses thriving, recognising how vital they are. Many are family-run and provide essential jobs and services.
For a successful Wales, we need successful small businesses across the country. To get our economy booming, the Welsh Government must support this vital sector and recognise the role it plays in underpinning our economy.
Yet far too much policymaking by both Labour Governments on either end of the M4 has been economically naïve and has restricted growth.
Last year, the UK Labour Government raised National Insurance for businesses, disproportionately affecting small firms and limiting new hiring.
Businesses in Wales also pay the highest business rates in Great Britain, another punitive tax that harms their potential.
My Welsh Conservative colleagues and I have been clear: we need better support for SMEs, including scrapping business rates for small firms, expanding free town-centre parking, and abolishing both the tourism tax and the tax on family farms.
Only through lower taxation and economically sensible policies can the UK and Welsh Governments help businesses reach their full potential.
In the meantime, our community can help immensely by shopping locally whenever possible, ensuring our small businesses have the strong future they need here in Wales.
So this Christmas, I encourage you all to shop local and stand with our small businesses, ensuring they not only survive but thrive.
Peter Fox MS - Monmouth
