CASE STUDY

AS the boss of a lingerie company, Steff McGrath is used to the notion of support in the right areas.

So the fact that she’ll now be able to offset 100 per cent of her investment in equipment against tax is ‘good news’ for small businesses, she says.

The 51-year-old, whose firm – Something Wicked – is based in an old mill building in Leeds, said: ‘This Budget gives me confidence that it’s a step in the right direction for growth and innovation and this is something small and medium businesses will feel positively about.

‘Anything that encourages growth, especially for businesses outside London, is good news’. Mrs McGrath started her business in 2017 and it now has an annual turnover of up to £130,000. The mother-of-two, who has always been determined to source from and manufacture in the UK, said: ‘It is not the cheapest thing to do.

‘But it’s something people are wanting and since Brexit there needs to be more of a financial incentive or tax relief if you do manufacture in the UK – some way of making it more straightforward for people to do.’