Event Recap: BID Breakfast Budget Review
Norwich businesses came together this morning for Norwich BID’s latest BID Breakfast, in partnership with M+A Partners, to explore what the Government’s Autumn Budget means for businesses operating in Norwich.
Key takeaways:
- M+A Partners provided an approachable and no-nonsense breakdown of the Autumn Budget.
- The Budget itself offered some positive measures, but little in the way of significant new support for businesses.
- An engaged discussion and lively Q&A provided an opportunity to share challenges, exchange ideas and build connections.
Sam Holloway and Faith Pearce from M+A Partners led an informative breakdown of the key announcements, highlighting the changes most likely to affect businesses, employers and individuals.
Among the measures discussed were changes to business rates, including an increased small business rates threshold for retail, hospitality and leisure businesses, alongside a 3.9% increase to the National Minimum and Living Wages from April 2027. Changes to capital allowances, mileage rates and personal taxation were also covered.
While there were some positive announcements, the overall picture was one of limited new support for businesses. With frozen tax thresholds continuing to create pressure and rising employment costs on the horizon, there was plenty for businesses to consider. As highlighted by M+A Partners, this was a relatively modest Budget for businesses compared with recent years, with as much significance in what wasn’t announced as what was.
However, the morning was about much more than the Budget itself. An open and engaging Q&A session sparked plenty of questions and discussion, giving attendees the opportunity to share the challenges currently facing their businesses.
From exchanging experiences to making new introductions, the event highlighted the value of bringing Norwich’s business community together.
Although the Budget may not have delivered everything businesses were hoping for, the event provided a valuable opportunity to connect, share perspectives and strengthen relationships – helping local businesses feel informed, supported and part of a wider business community.
Thank you to M+A Partners and everyone who joined us.
