Autumn Budget 2026: What Welf Accountants Wants to See for Small Businesses

Written By Paul Knappett

The UK's Autumn Budget will be delivered by Chancellor John Healey on Wednesday 28 October 2026. The Chancellor has said the Budget will be focused on growth, stability and moving "money and power out of Westminster, and into every postcode around Britain".

As accountants working closely with small and medium-sized businesses across the UK, we'll be watching closely.

At Welf Accountants, we believe SMEs are the engine room of the economy. They create jobs, invest in local communities and drive innovation. Yet many business owners are telling us the same thing:

It's becoming harder and more expensive to grow.

With rising employment costs, increasing compliance obligations and ongoing economic uncertainty, we believe this Budget presents an opportunity for the Government to back Britain's entrepreneurs and business owners.

Here is what Welf Accountants would like to see announced on 28 October.

1. Reverse the Employers' National Insurance Increase

At the top of our wish list is a review of the Employers' National Insurance changes introduced from April 2025.

The increase in the employer contribution rate from 13.8% to 15%, combined with the reduction in the secondary threshold from £9,100 to £5,000, significantly increased the cost of employing staff. While the Employment Allowance was increased to provide some support, many growing businesses still saw substantial increases in payroll costs.

  • Delaying recruitment plans

  • Reducing investment

  • Reconsidering pay rises

  • Increasing prices simply to maintain margins

  • Holding back growth ambitions

When businesses are penalised for employing people, economic growth inevitably suffers.

We would like to see the Government reverse or reduce the increase and introduce measures that actively encourage job creation.

2. Reward Businesses That Create Jobs

Small businesses create a huge proportion of private sector employment.

Rather than increasing the cost of hiring, we'd like to see incentives that reward businesses that expand their workforce.

Potential measures could include:

  • Temporary National Insurance relief for new employees

  • Additional tax relief for apprenticeships

  • Recruitment incentives for growing businesses

  • Support for skills and training programmes

If the Government wants economic growth, helping businesses recruit must be part of the solution.

3. Simplify the Tax System

One of the biggest frustrations for business owners isn't necessarily paying tax. It's understanding and complying with increasingly complex rules.

Business owners today must navigate:

  • VAT

  • Corporation Tax

  • PAYE

  • National Insurance

  • Making Tax Digital

  • Pension auto-enrolment

  • Companies House reforms

  • Employment legislation

Each requirement may be manageable on its own, but together they can consume significant time and resources.

We would welcome a commitment to simplifying the tax system and reducing unnecessary administrative burdens.

4. More Incentives for Investment

Businesses need confidence to invest.

Whether it's:

  • New technology

  • Equipment

  • Software

  • Vehicles

  • Automation

  • Artificial intelligence

investment improves productivity and drives growth.

We would like to see enhanced capital allowances and measures that encourage businesses to invest in modernising their operations.

5. Greater Support for Digital Transformation

Businesses that embrace technology tend to become more efficient, profitable and scalable.

At Welf Accountants, we've seen first-hand how cloud accounting, workflow automation and AI-powered processes can transform finance functions.

We would welcome:

  • Grants for digital transformation

  • Tax relief for technology investment

  • Support for AI adoption

  • Funding for productivity-enhancing software

The UK has an opportunity to become a global leader in SME digitalisation.

6. Improve Access to Finance

Many businesses have strong order books and ambitious growth plans but struggle to access affordable finance.

Higher borrowing costs have created challenges for businesses looking to invest in:

  • People

  • Premises

  • Equipment

  • Acquisitions

  • Working capital

We would like to see measures that expand access to funding and help businesses unlock growth opportunities.

7. Deliver Long-Term Stability

Perhaps more than anything else, business owners want certainty.

Businesses make decisions years in advance.

They sign leases. They hire staff. They invest in equipment. They commit to long-term plans.

Frequent tax changes make those decisions harder.

The Chancellor has already said the Budget will provide businesses with stability for the future. [gov.uk], [which.co.uk]

We hope that translates into a clear long-term roadmap that allows businesses to plan with confidence.

8. Support Cash Flow and Growth

Inflation may have eased compared to previous years, but cash flow remains a challenge for many SMEs.

We would like to see measures that:

  • Improve prompt payment practices

  • Support working capital

  • Encourage investment

  • Help businesses retain cash to fuel growth

Cash flow remains one of the biggest barriers to expansion for many small businesses.

Why This Matters

Small and medium-sized businesses aren't looking for special treatment.

They're looking for a business environment that allows them to:

  • Employ people

  • Invest with confidence

  • Grow sustainably

  • Compete effectively

The UK economy depends on successful SMEs.

When small businesses succeed:

  • More jobs are created.

  • More tax revenue is generated.

  • Local economies grow.

  • Communities become stronger.

The Welf View

As we approach the Autumn Budget on 28 October, our message is simple:

Make it easier for businesses to grow.

The increase in Employers' National Insurance has placed a significant burden on many SMEs. Combined with rising wages, compliance requirements and economic uncertainty, it has made growth more difficult than it should be.

If the Government truly wants to stimulate economic growth, it should start by reducing the cost of employment, encouraging investment and giving business owners the confidence to plan for the future.

Because Britain's small businesses don't need more obstacles.

They need the freedom, confidence and support to grow.

How Welf Accountants Can Help

At Welf Accountants, we help ambitious businesses understand the numbers behind their decisions through:

  • Management Accounts

  • Cash Flow Forecasting

  • Bookkeeping

  • Payroll

  • Credit Control

  • Tax Planning

  • Outsourced Finance Director Services

Want to understand how the Autumn Budget could affect your business?

Get in touch with Welf Accountants and we'll help you plan ahead with confidence.

Paul Knappett
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