Labour won 411 seats at the 2024 General Election, a clear majority, and a welcome change for a third of those who turned-up to vote. The PM’s new Cabinet hasn’t hung-about. Energy secretary Ed Miliband has granted approval for three giant solar farms. While Angela Rayner is busy pushing a ‘devolution revolution.’

But what does a new Labour government mean for small businesses in the UK? What does it mean for our customers, who work hard, generate local jobs, and invest wisely in the Fork Lift Trucks they use?

Labour’s manifesto is ambitious. Here at Grant Handling – as a company which partners with 100s of small businesses across the UK and Ireland – we’re keen to be on hand as opportunities and challenges arise under a new government.

Are you ready? As the official importer and distributor of HELI Forklifts, it’s important that we are. We’re ready to support our customers as their businesses are impacted by policy changes.

Here are some of its key pledges which – if delivered – will  impact small businesses.

Economic stability

Labour’s manifesto emphasises economic stability, a critical factor for small businesses that rely on predictable economic conditions to thrive. The party pledges to introduce a strategic approach to business taxation, ensuring no sudden or drastic changes that could disrupt long-term planning. They propose a cap on corporation tax at 25%, providing the lowest rate in the G7, which should offer businesses some certainty over their tax obligations throughout the next parliament​.

Labour’s tax pledges include maintaining full expensing, which allows businesses that invest in IT equipment and machinery, to claim back up to 100% of the cost of the investment by writing it off against tax on their profits. Good news for those who need to upgrade their Materials Handling Equipment.

Investment and innovation

One of Labour’s key strategies is boosting investment through the creation of a National Wealth Fund, with a capital of £7.3 billion aimed at attracting private investment in critical sectors. For small businesses, particularly those in manufacturing and construction, this could mean enhanced access to capital for innovation and expansion projects. This initiative is designed to support sectors vital to the UK’s economy, including manufacturing and clean energy, which could lead to increased demand for building materials and services​, including storage.

Infrastructure and energy

Labour’s commitment to making Britain a clean energy superpower by 2030 involves substantial investments in renewable energy sources and infrastructure. This includes doubling onshore wind capacity, tripling solar power, and quadrupling offshore wind by 2030. For small builders’ merchants for example, this shift presents both opportunities and challenges. On the one hand, the demand for materials and expertise in green building projects is likely to surge. On the other, businesses will need to adapt to new standards and regulations related to sustainable construction practices​.

Switching to an electric fleet is likely to help operators of small businesses meet impending sustainability targets. Grant Handling offers a full range of Heli Electric Counterbalance Fork Lift Trucks which are zero-emission and low maintenance.

Our refurbishment centres enable us to produce used refurbished Fork Lift Trucks too, keeping old equipment out of landfill. Refurbishment is certainly key for a greener, more circular economy (and it’s cost effective.)

Support for small businesses

Labour plans to overhaul the business rates system, which has long been a point of contention for small businesses. The proposed new system aims to level the playing field between high street shops and online giants. This change could significantly reduce the financial burden on small businesses, making it easier for them to compete and grow​.

This is something which key voices in the UK warehouse sector have been shouting about in recent years. Clare Bottle, CEO of the UK Warehousing Association, has slammed unfair business rates for warehouses, which have been caught in the crossfire of an inadequate system.

Regulations

Labour’s manifesto highlights the need for a pro-business regulatory environment that supports innovation and investment. This includes simplifying planning regulations to facilitate the development of infrastructure projects. For small businesses, especially those in the construction and manufacturing sectors, streamlined regulations could reduce the bureaucratic hurdles and costs associated with new projects, enabling faster growth and development​.

The new Government is promising a lot. If all goes to plan, small business owners can expect a more predictable tax regime and enhanced access to investment. However, they will also need to adapt to new environmental standards.

As a partner to 100s of small businesses in the UK, we’re able to recognise shifting demands on – and opportunities for – small businesses. Our commitment to supplying both electric and used vehicles across the UK will not only help improve the green credentials of our partners, it will support their need to upgrade technology, once supply chains and our economy feels the boost we’re being promised. At Grant Handling, we’re keeping everything crossed.

If you’re keen to get ahead of the game and meet critical Green Goals with an electric fleet or used Fork Lift Truck, email info@granthandling.com