Prime Minister David Cameron has urged the UK’s 4.9 million small businesses to take advantage of measures that could save them up to £10,000 each a year.
Speaking at a Federation of Small Businesses event on 27 January, Mr Cameron highlighted government support including:
- a £1.1 billion package of business rates measures, with extra relief for small businesses through the extended doubling of Small Business Rate Relief
- the £30 million Growth Vouchers, programme, which will see 20,000 small businesses receive up to £2,000 to help them access specialist support on financial management, recruitment, marketing and making the most of digital technology
- broadband vouchers worth up to £3,000 each, available in ten UK cities to help more small firms boost their business by accessing faster and better broadband connectivity
- from April 2014, every business and charity will be entitled to a £2,000 Employment Allowance to reduce their employer national insurance contributions bill each year.
Enterprise and Skills Minister Matthew Hancock said: “Small businesses are the bedrock of the UK economy. That’s why we must continue our drive to provide the support they need to scale up, move into new markets and hire more staff.”
The government has also been working with Enterprise Nation, which supports business owners and would-be entrepreneurs, to launch the Business Exchange, which asks larger businesses to link up with smaller ones to exchange skills, resources and ideas to help them grow.
Companies backing the Business Exchange include Sainsbury’s and John Lewis.
At Milsted Langdon, we are highly experienced in advising small businesses on a wide range of matters. Whether you are looking to raise finance to grow your business, move into new markets or make the most of the tax-saving opportunities available to you, our specialists can help. For further information, please contact us.