£7bn in the bank, shame it’s not in the UK
We make no effort to conceal the fact that we support small businesses and promote initiatives that drive profits. But when a company grows so big and generates so much cash that it takes business away from the high street, forcing companies into administration we have to take notice.
The company that is causing a stir is ‘Amazon’ who’s savings have ballooned to somewhere in the region of £6bn following a successful Christmas period. On the one hand it’s great to see a company performing so well in today’s economic climate but there are always two sides to every coin. On one side of the coin we have a company that has earned more than £7bn in the UK between 2009 – 2011.
Unfortunately on the opposite side of the coin are high street stores going bust and the UK government having to use its resources to ensure that they don’t get cheated out of Corporation tax, as Amazon funnel their sales through their head office in Luxembourg.
We think that there should be measures in place to ensure that loopholes in our tax system are plugged to avoid large cash rich corporates benefiting by avoiding their obligations, while small businesses suffer.
We want a fairer system that cares for the smaller business. Let us know if you agree and leave your comments below.