With the 2026 Autumn Budget fast approaching, attention will soon turn to what the Chancellor announces and, more importantly, what those announcements could mean for businesses across the UK.
The impact will vary between sectors, with businesses facing different pressures and priorities.
So, to explore what could matter most, we asked our experts in construction, manufacturing, agriculture and healthcare what they’re hearing from the businesses they work with and what they would most like to see from the Budget.
Their views highlight the issues that could have the biggest practical impact, from tax and investment to rising costs, skills and regulation.
The Budget impact on Construction: Turn commitments into activity
For construction businesses, the focus is firmly on whether existing commitments around housing, infrastructure and planning can translate into activity on the ground.
Ben Cussons, Business Advisory Partner at Scrutton Bland believes the sector is ready for action after a prolonged period of subdued activity and weak confidence.
“The time for delivery has arrived. We’re now more than two years into this Parliament and, despite significant commitments around housing, infrastructure, planning reform and regional investment, many parts of the sector continue to experience subdued activity and weak confidence.”
Stuart Stead, Partner at Cowgills adds:
“Planning capacity is another issue. Attracting and retaining planning officers remains difficult in the context of public sector restrictions, contributing to delays for businesses already dealing with lengthy development timelines.”
Stuart has also seen first-hand the impact that regulation can have on cash flow and delivery.
“The Building Safety Act was introduced with important objectives, but its implementation has contributed to delays and accelerated cash requirements for some developers and their supply chains.
Skills and technology will also be critical to this sector’s future. Construction businesses need to consider how AI and other technologies could change the way they operate, alongside investment in the skills needed to use them effectively.”
For construction SMEs, therefore, the Budget is not simply about announcing new measures. It’s about creating the conditions for businesses to invest, access finance and turn planned development into activity.
Budget impact on the Manufacturing sector: Certainty could be as valuable as new incentives
For manufacturers, investment decisions often stretch several years into the future – making stability particularly important.
Dr Phil Chambers at Sumer NI believes this Budget should provide greater confidence for businesses to invest in innovation, but does not expect fundamental changes to existing R&D or Patent Box schemes or their headline rates.
“For manufacturers, the most useful outcome may actually be a relatively uneventful Budget for R&D and Patent Box. Because, after several years of reform, businesses need time to work with the current rules and make investment decisions with some confidence that the framework will remain in place.”
Retaining existing incentives could support manufacturers investing in the development and commercialisation of patented technology. However, tax incentives are only one part of the picture.
As James Hallett, Partner at Simmons Gainsford highlights:
“The manufacturing sector has faced significant cost pressures over the past year, including the impact of the 2026 business rates revaluation, increases in the National Living Wage and higher employer National Insurance contributions. Energy and raw material costs remain challenging too.
The British Industrial Competitiveness Scheme (BICS) provides some support on energy costs, but eligibility remains relatively narrow. In fact, expanding eligibility to cover a broader range of sectors and products was the number one ask from manufacturing businesses that we engaged with at our recent Manufacturing Day event.”
Further targeted grants and incentives could help businesses improve energy efficiency, accelerate decarbonisation and invest in advanced manufacturing technology.
But as James goes on to say, “skills are another major concern. Apprenticeship funding reforms and thresholds that better reflect the true cost of technical training could encourage more manufacturers to invest in the next generation of skilled workers”
Linked to the skills agenda is the Government’s broader devolution agenda.
“Given the Prime Minister’s background as Mayor of Greater Manchester, it wouldn’t be surprising to see further powers and funding devolved to regional mayors and combined authorities. Which could mean greater control over skills programmes, innovation funding, transport infrastructure and business support initiatives locally.”
For manufacturers, the message is clear: while targeted support would be welcome, certainty itself will have greater value.
What the Budget could mean for Agriculture?
The Agricultural sector has already faced significant changes in recent years, leaving farmers and landowners watching closely and perhaps nervously for further changes.
The focus though isn’t simply on what new support might be announced, but on whether the Budget can help address some of the structural pressures already facing the sector.
As Jack Deal, Agriculture and Estates Partner at Scrutton Bland highlights:
“UK agriculture has been hard hit by the last two Budgets.
And after the significant impact of the changes to IHT an area of particular concern to many is the potential impact of further changes to taxation on death and the ability of family businesses to pass assets between generations.
A flat-rate death duty has been discussed as a possible way of raising funds for social care reforms. But such a measure could have a significant impact on agriculture, particularly if appropriate reliefs are not available to protect those businesses intended to be passed down the generations.”
Alongside tax, productivity and regulation remain key concerns, as Mark Smeaton, Partner at EQ explains:
“It’s no secret that Government bureaucracy is holding back the sector. Everything takes too long to get done, costs too much and is far too complicated.
For farmers and landowners, reducing administration and regulation could therefore be just as valuable as introducing new financial support.”
The underlying challenge is a difficult one. Agriculture is operating in a low-profitability, high-tax and highly regulated environment – whilst as businesses – farms and landed estates are also expected to invest, improve productivity and adapt to changing markets.
“The Government can’t fix all of this in the Budget but we hope they focus on the areas they can control and give our farmers and landowners some much needed good news.”
For agricultural businesses, the Budget therefore needs to be considered alongside longer-term questions around profitability, investment and succession.
Potential impact of the Budget on Healthcare
Within the healthcare sector, primary care faces a different set of pressures as Katie Collin, Partner at Ramsay Brown explains: “The last two Budgets have brought increases to the National Living Wage and employer National Insurance, while changes to pensions and Capital Gains Tax have added further considerations for practice owners and partners. All against a backdrop of heavy workloads, limited funding and increasingly complex tax and operational arrangements.”
One area of concern for this sector highlighted by Chris Brown, Partner at RMT, is the possible taxation of partnerships. “With HMRC guidance already referring to the future timetable for Making Tax Digital for partnerships, the Budget could provide greater clarity on how partnership taxation will operate and when changes will take effect. But any changes bringing tax payments closer to the timing of income, or altering the treatment of Employer National Insurance for partnerships, could have implications for GPs, dentists, allied health professionals and pharmacies as many operate under a shared partnership model.”
Capital Gains Tax is another area to watch, particularly following increases to Business Asset Disposal Relief. Changes here could affect decisions around partnership retirements and succession. Rachelle Kilpin, Partner at BHP highlights: “If the Prime Minister’s focus on social care is reflected in the Budget, then we may see further momentum towards a community-first model, with primary care playing a key role in that ambition. This would reinforce the emphasis on prevention, earlier intervention and delivering care closer to patients’ homes.” But she stresses, “any shift in responsibility needs to be matched by the funding, workforce and infrastructure required to deliver it.”
Together, their hope for the sector is clear:
“We hope the Chancellor will use the Budget to provide meaningful support for a primary care sector in need, with a clear view of how that will look in practice.”
What can SMEs do now?
While there is plenty of speculation about what the Chancellor might announce, you don’t necessarily need to wait until Budget Day to start preparing.
For many SMEs, the most useful question right now is not simply “What will change?”, but “What decisions are we already considering that could be affected?”
Review your investment plans
If you’re considering investment in equipment, technology, property or business expansion, you need to understand which decisions are time-sensitive and whether potential changes to tax reliefs or incentives could affect the numbers.
Check that you’re making use of existing reliefs
The Budget may introduce new measures, but businesses should also make sure they are making full use of the reliefs and incentives already available.
For manufacturers, for example, this could mean reviewing R&D and Patent Box opportunities and making sure claims are robust.
Stress-test your plans
Consider what would happen if costs remain higher for longer, investment is delayed or a tax relief changes.
Understanding the impact on cash flow and profitability now can make it easier to respond once the Budget announcements are known.
The Budget is only the starting point
Across the sectors we work with, one message comes through clearly: businesses want the confidence to plan.
For some, that means targeted financial support. For others, it means fewer regulatory barriers or greater access to skills and finance. For businesses making long-term investment decisions, simply having a stable tax framework may be valuable in itself.
But whatever is announced on 28 October, the important question for your business will be what it means for your plans, your finances and your next decisions.
At Sumer, our specialists across tax, accountancy, corporate finance and business advisory can help you assess what the Budget means for your circumstances and plan your next steps.
