The Government has reaffirmed its commitment to all the UK’s 5.5 million small businesses with a series of new announcements.
A new Small Business Council, chaired by the Minister for Small Business, will be established to work alongside the PM’s Business Council and bring together industry leaders from across the SME community. The Council builds on the Department’s existing engagement activity and will provide a powerful voice for small businesses within Government. It will be tasked with overseeing three key areas for small firms – Access to finance, skills and support as well as removing barriers.
In addition to the formation of the Council, a new Help to Grow Plan is being launched.
The Help to Grow hub will be a one stop shop for SMEs to find the information they need to grow and scale up. The Government knows that for many people, starting a new business for the very first time can be a daunting process. That’s why they've also - for the first time ever - created a step-by-step guide on how to set up and grow a business in the UK.
Visit the Help to Grow website here: https://helptogrow.campaign.gov.uk/
The new site will bring together the support on offer from the government into one place, making it quicker and more convenient to find the resources business leaders and budding entrepreneurs need.
The government is committed to supporting small firms right across the country, which is why the British Business Bank has supported over 90,000 SMEs and their Start Up Loan Scheme has issued more than £1 billion in loans. Our business rates package worth £4.3 billion over the next 5 years will help high streets across England. The Retail, Hospitality and Leisure Relief has been extended for 230,000 businesses which will save the average independent pub over £13,000.
Alcohol duty has been frozen until August 1st 2024 and Small Producer Relief is being introduced to allow small businesses who produce alcoholic products with an ABV of less than 8.5% to be eligible for reduced rates of alcohol duty on qualifying products.