The UK government has released its Plan for Small and Medium-Sized Businesses (SMEs), recognising their contribution to growth and outlining the steps they are taking to increase support.
The plan aims to tackle late payments through a series of legislative proposals that include fines against large companies that pay their suppliers late. It also seeks to modernise the tax and customs system and reduce the regulatory burden.
It also hopes to boost skills by helping UK SMEs adopt digital technologies, providing leadership training, increasing investment in the apprenticeships and skills system and engaging with businesses on accessing apprenticeships and T-Levels.
Opportunities opened up via trade deals and the recently published Trade Strategy will be complimented by additional support through the Business Growth Service. SMEs should also expect to win more government contracts as they become a priority in the new procurement policy system.
The plan builds on policies to improve business conditions laid out in the Industrial Strategy through expanding access to finance, including start-up loans, and helping reduce energy costs through support to realise the opportunities of Net Zero.
Made in Britain members can read the full Plan for Small and Medium-Sized Businesses here.
You can also read a round-up of all the recently published strategies on the Made in Britain website here.
If you would like to make contact with Made in Britain in relation to the Plan for Small and Medium-Sized Businesses, or the UK government, supply chains and trade more widely, please email trade@madeinbritain.org.
By Made in Britain 1 day ago | By Made in Britain