The Government reaffirms its commitment to the UK’s 5.6 million SMEs by setting up a new SME Business Council.
Chaired by Small Business Minister, Kevin Hollinrake, the Council will work alongside the PM’s Business Council to tackle the key issues facing small firms who will be given new levels of access direct to government.
Almost every business in the country is a small business (99.9%) who in turn support 27 million jobs across the UK, accounting for £4.5 trillion of annual turnover. Almost every billion-pound company, tech giant or multinational corporation started off as small business, which is why this Council has been formed, to help support and nurture the next generation of small firms to thrive and grow.
The Council will include small business organisations such as Small Business Britain, the Federation of Small Businesses and Family Business UK, as well as SMEs themselves.
SME’s on the council include furniture manufacturer Environmental Street Furniture who export to 27 countries globally; Midlands-based diamond drill specialists, D-Drill who have been crucial to major projects on the London Tideway and the Silverstone F1 circuit; and London-based superfood manufacturer Creative Nature who found a gap in the market for allergen products and are now stocked by supermarket giants across the UK.
With firms representing all corners of the UK covering sectors including manufacturing, construction, food and drink, the new council aims to truly represent the makeup of UK industry.
The Council will be a powerful voice for small businesses within Government and has been tasked with overseeing three key areas for small firms – Access to finance, skills and support as well as removing barriers.
The Government is ensuring small firms have the support they need with a £4.3 billion package to support SMEs with business rates and extending the Retail, Hospitality and Leisure relief for a fifth year, we are helping businesses navigate challenging economic times.
They are also providing the swift and simple access to finance that SMEs need to start and grow, with the British Business Bank having delivered over £1 billion of loans to over 100,000 businesses, and UK Export Finance providing £6.5 billion of support to help businesses export around the world.
And the Help to Grow campaign website has been relaunched and refreshed, as a one-stop shop for SMEs to find the information they need to grow and scale up. This includes helping small firms to clearly identify what funding they can access, helpful webinars as well as the basics of how to set up a business for the first time https://helptogrow.campaign.gov.uk/