For many Cornish business owners, the battering of the Budget has left many deeply concerned that they’re close to drowning.
The rise in National Insurance contributions combined with an increase in minimum wage, while designed to support the workforce, are leaving business leaders wondering just how much more their budgets can stretch and considering very tough decisions.
Let’s start with the facts. From April 2025, employer NI contributions will rise by 1.2 percentage points, and the minimum wage hike will push annual costs for full-time employees significantly higher.
The Government claims these changes are necessary to improve public finances and workers’ living standards. Both admirable intentions supported by most, but they do little to address the precarious balancing act business owners face daily.
Add to the mix changes to inheritance tax and agricultural property relief and there is not a business leader in town or farm not scratching their heads as to how to balance the books and keep going. Government investment in infrastructure—roads, housing, and connectivity—should be a boon for all.
But while the intent is laudable, the pace of delivery cannot afford to be slow. Businesses can’t wait years for the promised economic uplift. Support must be immediate and targeted, ensuring that every pound spent translates into real benefits for those shouldering the economy’s weight. So, where does that leave us?
At the Cornwall Chamber of Commerce, we’re not content to stand by and watch. We’re championing the cause for smarter policy decisions—ones that recognise the vital role businesses play in creating jobs, driving innovation, and sustaining communities.
But here’s the truth: the Government won’t simply hand Cornwall its fair share. It’s up to us, the business leaders of Cornwall, to ensure our voices are heard loud and clear. The Government’s industrial strategy offers real opportunities, but capitalising on them will take more than ambition. It demands unity among Cornish businesses.
We must bring together voices from across sectors to present a coordinated, strategic case for why Cornwall deserves targeted investment. That means moving beyond hopeful rhetoric and focusing on action-oriented plans that match our ambition with reality. We need to push relentlessly for outcomes, not just outputs.
Building infrastructure isn’t enough if it doesn’t connect businesses to new markets. Training programmes must create the workforce we need— not just tick boxes for funding. Strategic partnerships, robust project management, and clear accountability are critical to ensuring that every opportunity translates into real progress for our region. This is serious work, but it’s also an exciting challenge.
Cornwall has never lacked for ambition or resilience. Now, we must match those qualities with a laser focus on collaboration and delivery. Let’s ensure that when the Government talks about transforming Britain’s industrial future, Cornwall is not just part of the conversation but a model for how to make it happen.
This article was first published in the Dec/Jan issue of Business Cornwall magazine.
