Government announces new measures to support small businesses

/ Posted By - Bradleys Accountants / Categories - Advice for Small Businesses

Skills and Enterprise Minister, Matthew Hancock announced the government’s plan to introduce new measures to support small businesses.

Minister Hancock, who was addressing the 40th annual Federation of Small Businesses (FSB) conference in Manchester, said the government plans to create 20 business schools to help establish a ‘Small Business Charter’.

The Charter aims to develop these schools as “anchor institutions” that are in a good position to support small businesses in their respective areas.

Mr Hancock also made the following announcements:

    Subscribe to our newsletter

    ”Small businesses are the lifeblood of our economy and with two thirds preparing to expand; it is our desire to make sure they have everything they need to thrive. Small businesses should influence and inform government on what advice and support works best for them, so I’m pleased to be able to announce further measures that allow them to provide their input,” said Hancock.

    The measures aim to support the growing confidence among SMEs highlighted in a FSB survey earlier this year, which concluded that more and more SMEs aspire to grow and expand this year than at any time in the last 2 years.

    John Allan, National Chairman, Federation of Small Businesses said, “The FSB welcomes this ongoing focus on small businesses at the heart of government, and especially efforts to sharpen up the support offered to them. Maximising the expertise business schools offer can only enhance growth prospects for small firms, and the development of growth hubs should provide a much clearer signposting of the wide range of support there is available.”

    Chancellor George Osborne, who also spoke at the conference, said that a new consultation plan has also been put in place which will require lenders to release information on SMEs they reject for finance, so that alternate credit providers can identify and approach them.

    Related Articles

    What is spend visibility?: Strategies for improving…
    | Advice for Small Businesses

    Did you know that only one in ten UK finance decision-makers has complete spend visibility … Read more

    Breaking down the SEIS/EIS risk-to-capital condition for…
    | Advice for Small Businesses, Business start-ups

    The SEIS/EIS risk-to-capital condition is a relatively new entrant to the SEIS/EIS investment checklist, introduced … Read more

    How do I raise funds for my…
    | Advice for Small Businesses

    Starting a small business is an exciting and arduous journey. There is never a dull … Read more


    Subscribe to the newsletter

    Know about latest accountancy updates, company news and business growth tips. Every month, in your inbox

      Subscribe to our newsletter