The Launch of the Small Business Council

The Small Business Council, set to launch next month, will serve as a dedicated platform bringing together SME leaders from across the nation. This council is evidence of the government’s recognition of the importance of small businesses, which collectively account for 99.9% of all businesses in the UK, supporting 27 million jobs and contributing £4.5 trillion to the annual turnover.

Government initiatives for SMEs

As part of the Help to Grow initiative, the government has introduced the Help to Grow: Management scheme, a 12-week programme designed to enhance SME leadership and management skills. With 90% government subsidisation, the scheme is expected to support up to 30,000 businesses over its lifetime.

The government’s commitment to backing British businesses is further evident in its efforts to tackle late payments, a persistent issue for SMEs. The Prompt Payment and Cash Flow Review, launched in 2023, exemplifies the government’s determination to make the UK the best place in the world to do business. In addition to financial support, the government is addressing other critical issues affecting small businesses. The business rates package, worth £4.3 billion over the next five years, aims to support high streets, while measures such as the extension of the Retail, Hospitality, and Leisure Relief and the freezing of the small business multiplier reflect the government’s dedication to aiding independent businesses.

This Help to Grow campaign and the Small Business Council represent positive steps to address the challenges faced by SMEs in the UK. Find out more about the Help to Grow Campaign here.

Share

InvestUK is not regulated by the Financial Conduct Authority or the Financial Services Compensation Scheme established for the protection of investors does not apply.

Recent Articles

See all
Rupert Gather and Shelley Lewis at the UNESCO World Conference on Culture and Arts Education

InvestUK Chairman Rupert Gather speaks about the importance of connectivity at the UNESCO World Conference on Culture and Arts Education

Rupert highlights the Marco Polo Foundation’s 700th-anniversary commemoration, stressing the Silk Road’s historical importance, contemporary relevance across 33 countries, and the foundation’s mission to apply Marco Polo’s legacy for modern cultural connectivity through trade, culminating in a 2024 digital art exhibition aimed at celebrating diversity and unity, especially among young artists.

Company news