CEO Update November 2024

2024 Autumn Budget

Increases in Capital Gains Tax, employer National Insurance contributions, and both the National Minimum and National Living Wage will place additional financial strain on Scottish businesses, already navigating an unstable economy. These cost pressures raise an important question: how will businesses adapt to absorb these new expenses?

Last week, I attended a budget event hosted by Thomson Cooper Accountants, where the team discussed these budget announcements in detail, focusing on the impact for Scottish businesses. They explored strategies for managing these financial changes and shared insights into how firms might adjust to safeguard their operations amid these economic challenges - valuable guidance for navigating the current financial landscape.

Beyond budget discussions, it's important to foster community and support among businesses. With the festive season approaching, we’re excited to host our annual Festive Social at Kingsbarns Distillery. It promises to be a wonderful event, and we hope to see you there as we come together to celebrate and strengthen our business community. Book your place here: Event.

Best regards,

Stephen Percy-Robb

CEO, Fife Chamber of Commerce