The UK economy is in the strongest state for a generation and today’s budget provided further benefits for small business owners and allow the public to keep more of their earnings. Amongst the giveaways were more high speed broadband Internet access across the country, increases in tax allowances and higher tax thresholds. This means increased spending behaviour and is likely to lead to a need for more advice on spending.
The Conservative led Government of 2010-15 have used innovation and growth in modern industries such as media, creative design and online business to lead a great economic recovery. More money is being spent in the economy on things such as home improvements and loft conversions. This means more funds available for services such as for private psychiatry and life coaching as well as a likely increase in business spending behaviour on online marketing and digital services.
Additional income for the British people is highly likely to see more spending with British businesses, service providers and independent professionals. Changing behaviour with income spending will change as families have more disposable income and the cost of living continues to fall.
Because house prices are still rising steadily, it makes more sense for home owners in London, Essex and Hertfordshire to look an expanding their property. The economic improvement means more people can afford a well planned and delivered loft conversion in Essex. This adds value to homes provides an innovative way to increase your property value. It also means a more effective way to move up the housing ladder through investment rather than saving.
Removal of restrictions to online business means that it is easier to open and run small businesses. This means more people are prepared to become small traders or open new practices. In law, expert lawyers in employment, health and business law might feel ready to create their own practice. An expert employment solicitor in London might be ready to leave a larger firm and open their own specialist employment solicitors practice in the capital.
With more jobs, more people, faster change to the landscape and civic structures improving throughout London, the Northern Powerhouses and the West around Bristol, growth is predicted to continue with more innovation and invention. The new development of CrossRail has provided a further boost to the London economy, increasing property value along the areas being connected to a fast-link to central London. A further runway to Heathrow or Gatwick airports is likely to speed up these processes even more.
After such a long and deep recession under the last Labour government, it has taken some people years to turn their fortunes around. As a result, mental health problems have become severe for many more people than in previous times. This means major stresses on the NHS – in fact many doctors are now in need of additional occupational health support. Some doctors have created Doctors’ Support Groups in order to cope with pressures in a poorly funded NHS and to deal with increased patient numbers. In London private psychiatry patients are at an all time high level. Similarly, across the region in Hertfordshire life coaching support is at a high demand. Life coaching allows people to find new ways of coping with life trauma such as stress, job loss, career change and changes at home.
One of the driving forces in the economic upturn is from the digital sector. As the finance sector reels from one disastrous scandal to another, the creative industries go from strength to strength. Across Essex, particularly in Loughton, web design, SEO and online marketing companies continue to launch, prosper and help local business to expand online and increase footfall in their shops. A web design company in Loughton, Essex will be able to work closely with local shops, office and professionals to create websites that deliver better customer service, attract more customers and create more profit.
With more digital access through online broadband access, a local small business digital content creator will also benefit from today’s budget and subsequent changes in economic behaviour.