Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

The Chancellor's Autumn Budget had the feel of a 'steady as you go' exercise, with targeted support for some businesses, measures to encourage investment and little to ease the pressures facing many SMEs.

For Bedfordshire businesses, there are welcome announcements, particularly for retail, hospitality and leisure, but many firms will still be waiting for more meaningful help with energy, employment and other operating costs.

While the Budget offers some encouragement, it falls short of the broader support many SMEs were hoping for. So, what has been announced, and what could it mean for your business?

Welcome relief for retail, hospitality and leisure

Changes to business rates will mean an estimated 70,000 additional eligible retail, hospitality and leisure businesses across England will pay no business rates. There will also be a further 20% reduction for eligible pubs, live music venues and social clubs, while rates for other businesses in these sectors will be frozen in real terms for two years.

For independent shops, cafés, restaurants and hospitality businesses across Bedfordshire, this could provide much-needed breathing space and help protect our town centres and local communities. However, many businesses outside these sectors, including manufacturing and professional services, will see little direct relief.

Energy costs remain a challenge

Energy bills remain a significant concern, and while the Budget includes measures to address these costs, much of the support is targeted at specific industries.

Around 10,000 energy-intensive manufacturing businesses will benefit from electricity discounts of 20–25% under the British Industrial Competitiveness Scheme, starting in April 2027, with backdated support for 2026–27.

The government has also committed to longer-term reforms of energy charges and extended the 5p fuel duty cut and freeze until July 2027.

These are welcome steps, particularly for manufacturers and transport-dependent businesses. However, many SMEs won't qualify for the energy discounts, leaving them to manage high electricity bills without additional support. We would have liked to see more immediate help for smaller firms with less flexibility to absorb rising costs.

Encouraging investment and entrepreneurship

There was positive news for entrepreneurs and growing businesses, with measures aimed at improving access to finance and encouraging investment.

From April 2027, a new Founders' Relief will offer qualifying founders of high-growth, innovative businesses a reduced Capital Gains Tax rate of 10% on up to £10 million in lifetime gains.

The government is also increasing the British Business Bank's financial capacity by £5 billion, alongside measures to simplify access to research and development tax relief and help businesses attract and retain employees.

For Bedfordshire's entrepreneurs and innovative SMEs, these changes could open up new opportunities for growth.

For businesses looking to export, the Budget also included plans to expand export finance support, including a new SME export finance scheme launching in 2027. As a Chamber, we'll be interested to see how this translates into practical support for local businesses looking to reach new markets.

Employment costs and skills

The Budget confirms a 3.9% increase in the National Living Wage to £13.21 per hour from April 2027, alongside increases to the National Minimum Wage for younger workers.

While higher wages are welcome for employees, they mean additional payroll costs for businesses already managing rising overheads.

The Budget also confirmed £100 million for expanding local apprenticeship services, a previously announced commitment aimed at helping young people access opportunities and supporting employers, particularly SMEs, with recruitment.

We regularly hear about skills shortages from our members, so measures that help employers bring new talent into their teams are welcome. However, we know that businesses had hoped for more ambitious action on recruitment challenges and employment costs.

What about investment in Bedfordshire?

The introduction of new Good Growth Funds aims to give local leaders greater flexibility to invest in regional development, regeneration and economic opportunities. For Bedfordshire, investment in infrastructure, regeneration and business development could create opportunities across construction, manufacturing, professional services and the wider supply chain.

The Budget also includes commitments relating to housing, infrastructure, public procurement, artificial intelligence and innovation. But attracting investment is only part of the picture; what matters is ensuring local businesses benefit from it.

We want to see Bedfordshire firms given every opportunity to compete for contracts, build relationships with larger organisations and win new work. Through initiatives such as BedX, we're already helping businesses make those connections and access procurement opportunities.

Some positive steps, but is it enough?

The British Chambers of Commerce described the Budget as a steady approach that offers some encouragement but lacks the bigger decisions needed to deliver stronger economic growth, and it's a view we share.

There are measures worth welcoming, particularly business rates relief, support for entrepreneurs and local investment. But for many Bedfordshire SMEs, the pressures affecting decisions about recruitment, investment and expansion remain largely unchanged.

Our latest economic surveys show that while business confidence is beginning to improve, that optimism isn't yet translating into stronger investment. Businesses need policies that not only encourage growth but give them the financial confidence to pursue it.

Bedfordshire has an ambitious business community and significant opportunities ahead. We want to see those opportunities turn into contracts, jobs and growth for businesses across our county.

Supporting Bedfordshire businesses

At Bedfordshire Chamber of Commerce, we'll continue working with the British Chambers of Commerce to make sure the challenges and priorities of our local business community are heard at a national level.

We're here to help businesses navigate challenges, make valuable connections and explore new opportunities. Whether you're looking to grow, reach new markets or need advice and support, our team is here to help.

You can read the full Autumn Budget 2026 on the government website.

For more information on how we represent and support Bedfordshire businesses, or to find out about becoming a Chamber member if you're not yet one, visit chamber-business.com or call us on 01582 522448.