Government lends a hand to SMEs
The Government has recognised the 'important contribution' that small businesses make to the UK economy and has accepted all the recommendations made by its Enterprise Advisor Lord Young in his report on growing small businesses.
Acknowledging that small firms comprise 99 per cent of all UK businesses and that half of all British jobs are in small and medium-sized enterprises (SMEs), the Government says it will make it easier for SMEs 'to access the right advice and support to succeed in the global race'.
Among the recommendations are a removal of the age cap on start-up loans, so that entrepreneurs over 30 will be eligible; simplifying bidding processes so SMEs can more easily compete for £230 billion worth of public sector contracts each year; and the creation of a £30 million voucher scheme to encourage SMEs to get specialist growth advice.
There is currently a record number of start-up companies and SMEs in the UK, totalling around 4.8 million small firms. The Business and Enterprise Minister Michael Fallon said, 'It's important we listen to what small firms want to so we make Britain the best place to start, grown and finance a business.'
Growing your business and keeping it simple is easier with Acas' help. Acas has developed resources especially to provide Help for small firms, including Simple, easy to use forms and policies, and offers practical training courses useful to SMEs, such as Human resources management for beginners.
Visit the Acas Training and Business Solutions page for more information.