Federation of Small Businesses sends wish list to London mayoral hopefuls

Lauren Fedor
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Small businesses want City Hall to focus on property costs. (Source: Getty)

Small businesses in the capital are calling on the next mayor of London to work to bring down property costs.

In a report released today, the Federation of Small Businesses (FSB) London laid out a “London Manifesto” for Boris Johnson’s successor.

After polling nearly 7,000 small businesses in London on their biggest concerns for City Hall, the FSB found that over half said that business property costs require urgent reform.

Almost one in four businesses said that the cost and availability of housing was having a negative impact on their ability to recruit and retain staff. One in ten firms said property costs would prompt them to increase wages and hold off on hiring more workers.

Labour mayoral candidate Sadiq Khan and Conservative mayoral candidate Zac Goldsmith both welcomed the report, vowing to back small businesses in equal measure.

Khan said he “helped run a business” and "knows first-hand the challenges that small businesses face", adding that looks “forward to working with London's small businesses to make our city the best place in the world to do business”. Goldsmith, meanwhile, said London is a “big city powered by small businesses” and that he “looks forward to meeting the FSB in the coming weeks”.

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