JJ Smith MD, Martin Smith (left) with former apprentice Ben Pybus
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Last March, unprecedented times called for unprecedented measures, with the government announcing financial support packages to help both businesses and individuals as the Covid-19 pandemic hit. Fast-forward to this March, the 2021 budget delivered earlier this month highlighted that we are still in the emergency phase of the pandemic, with a focus on securing an economic recovery and ensuring business stability. JJ Smith managing director Martin Smith offers his point view …
“JJ Smith, the UK’s leading supplier of woodworking and off-site construction machinery, was particularly thrilled with the budget’s focus on new machinery investment. Beginning April 2021, the Government is investing £25bn in the UK’s future growth and prosperity.
“Through the 130% super-deduction, companies can cut their taxes by up to 25p for every pound they invest in new machinery. If a company was to invest £50,000 in new machinery, it would reduce their taxable income by £65,000.
“This provides a fantastic opportunity for UK businesses to invest in new woodworking machinery that will enable them to be more productive, innovative or efficient while simultaneously reducing their corporation tax liabilities. If companies use this incentive from the government to buy machinery from us, they know that they will be getting world class equipment with long-term support from a company that has been trading for nearly 100 years. This incentive could be a fantastic opportunity for a large number of our customers to take on new projects and we’re excited to see what they do with it,” says Martin.
“JJ Smith is also proud to supply machinery to the offsite construction industry and welcome the increased focus on this construction method. Liverpool City Region was highlighted as having an ambitious proposal for MMC in the budget, and as industry experts, they think this is a fantastic opportunity for the region as a whole.
“JJ Smith welcomes the focus in the budget on investment in the construction industry as a key driver for jobs and prosperity in the UK. In particular as a leading supplier through its subsidiary company Modular Building Automation of automated equipment solutions for the offsite sector. Being the only offsite construction machinery supplier in the UK, MBA company is well placed to assist businesses large and small looking to innovate in this sector,” says Martin.
Furthermore, JJ Smith is a family business based in Knowsley which strongly believes in the benefit of apprenticeships and is proud to provide employment and training opportunities to local people.
JJ Smith operations manager, Dave Moore
Pictured is rising star Ben Pybus who has just completed his apprenticeship and is now a fully qualified engineer. “Ben has shown a fantastic aptitude for engineering over the course of his apprenticeship and we’re very proud of all that he has achieved. He is a real asset to the company and he has a bright future ahead of him,” says Dave Moore, operations manager.
The announcement of the plan for additional £126m for 40,000 more traineeships in England is good news for young people. This will fund high quality work placements and training for 16-24 year-olds in 2021/22 academic year. As well as this there is an extension of the apprenticeship hiring incentive in England to September 2021 and an increase of payment to £3000.
JJ Smith currently employs five apprentices and endeavours to hire two new apprentices every year, so naturally welcomes the incentives for companies like theirs to continue to offer opportunities to young people to start their careers.
Commercial director, Rachael Baker
Commercial director, Rachael Baker says: “There are a number of announcements in today’s budget that we welcome. The Modern Methods of Construction Taskforce is good news. We are proud to supply machinery to the offsite construction industry and welcome the increased focus on this construction method. The super-deductions on capital investments in machinery assets provides a fantastic opportunity for UK businesses to invest in new woodworking machinery that will enable them to be more productive.
Rachael concludes: “We welcome the Liverpool City Region Freeport status and the possibilities that easier trading could bring to us as a company, and the increased apprenticeship funding is excellent too.”
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www.jjsmith.co.uk
