What do owner-managed businesses really want from the Autumn Budget 2026?

As speculation builds ahead of the Autumn Budget, many business owners will be asking the same question: will this Budget make it easier or harder to grow a business in the UK?

The Government faces a difficult balancing act. It must support economic growth while managing pressure on the public finances and the money markets, with commentators already debating where additional tax revenue might come from.

But most owner-managed businesses aren't looking for handouts. They're looking for a Government that understands what drives growth.

They want to be able to recruit talented people without continually rising employment costs. They want confidence that if they invest in new technology, premises or acquisitions, the tax system will support rather than penalise those decisions. And they want an environment where taking commercial risk is encouraged, not ultimately taxed either now or in the future.

The UK's owner-managed businesses, including many of our clients are responsible for a huge amount of innovation, investment and job creation. Yet many business owners feel they spend increasing amounts of time trying to navigate regulation, administration and tax complexity rather than focusing on their customers and growth plans.

My wish list for this year's Budget for our clients is therefore straightforward: create conditions that encourage businesses to invest, employ and grow. If the Government can achieve that, the resulting increase in economic activity will do more for the public finances in the long term than any short-term tax raising measure.

My four easy wins...

First, row back on the employer National Insurance rise, either for all businesses or at the very least for SMEs. For owner-managed businesses, employment costs are often the biggest barrier to taking on the next person, promoting from within or committing to longer-term growth plans. Reducing that pressure would be a simple, visible measure that gives businesses more confidence to hire and invest.

Second, focus on practical supply-side measures that grow the workforce we will need for the next generation. That means investing in AI skills, but also in the interpersonal, commercial and problem-solving skills that will become even more valuable as AI does more of the heavy lifting. Businesses need people who can use technology well, but also build relationships, understand clients and turn information into judgement.

Third, help more young unemployed people find meaningful roles by giving employers a stronger incentive to train, mentor and take a chance on them. Well-designed support for apprenticeships, entry-level employment and workplace training would not just help businesses fill skills gaps; it would also help society in the longer term by giving more young people a route into work, confidence and progression.

Fourth, encourage entrepreneurial spirit by maintaining a clear disparity between income tax rates and capital tax rates. Entrepreneurs take risk, build value and create wealth that ultimately provides capital for future investment. If the gap between taxing income and taxing capital continues to narrow, the incentive to take that risk is weakened and, over the longer term, we all risk being poorer as a result. The media has a role to play here too: we should celebrate well-known entrepreneurs as contributors to society and role models for the next generation, rather than too often portraying them as simply taking from it.

Longer-term, the Government should also look at measures that help businesses plan, invest and pass on value in a way that keeps successful companies rooted in the UK.

My four longer term wins…

There are other areas worth developing too. The first is investment relief with real certainty. Businesses are more likely to commit to capital expenditure, technology, automation and productivity improvements if they can see a stable tax framework for several years, rather than short-term allowances that are repeatedly changed or withdrawn.

The second is a simpler and more accessible R&D and innovation regime. Many SMEs are innovating constantly, but do not always have the time, confidence or resources to navigate complex claims processes. A regime that is easier to understand, properly targeted and quicker to administer would help genuine innovation without encouraging abuse.

The third is business rates reform. For businesses that need premises, particularly in retail, hospitality, leisure, manufacturing and local services, property costs can be a major drag on investment. A system that better reflects modern trading conditions would help town centres, regional employers and businesses that cannot simply move their activity online.

The fourth is reducing administrative friction. Making Tax Digital, Companies House reform, payroll reporting and employment regulation all have a legitimate purpose, but each additional requirement takes time and attention away from running the business. If the Government wants SMEs to grow, it should commit to a genuine simplification agenda that removes duplication, improves digital systems and makes compliance easier rather than simply more frequent.

Finally I move to succession planning. Many owner-managed businesses have strong management teams who understand the culture, customers and long-term potential of the business, but the route for passing shares to that management team can be complex, expensive and uncertain. A simpler and more tax-efficient framework for gradual management ownership would encourage earlier succession planning, reduce the risk of good businesses simply being sold externally or wound down, and help preserve jobs, knowledge and local economic value.

Ultimately, our clients aren’t looking for special treatment, they simply want a tax and economic framework that backs ambition, rewards investment and gives them confidence to build for the future here in the UK.

What will the Autumn Budget mean for you and your business?

Join us the following morning for a live online briefing as our experts examine the Chancellor's key announcements, policy changes and economic priorities, and discuss their potential impact. Click here to register.

If you would like to discuss how we can help your business, please speak to your usual James Cowper Kreston contact, or get in touch with our team here to find out how we can help you maximise your potential.