The Government has committed to supporting 5.5 million small businesses by updating its Help to Grow campaign and introducing a new Small Business Council next month.
Building upon existing initiatives, the council will create a platform for SME leaders nationwide to actively engage with the Government.
With small businesses constituting 99.9% of all UK enterprises, employing 27m people, and generating £4.5 trillion in annual turnover, the Government designates 2024 as "the year of the SME".
The Help to Grow campaign and website have been updated to serve as a comprehensive resource hub for SMEs, offering insights into funding, webinars, and business setup guidance.
A notable addition is the Help to Grow management scheme, a 12-week intensive program enhancing SME leadership skills. This initiative, which is 90% subsidised by the Government, has already been utilised by nearly 8,000 businesses, aiming to support up to 30,000 throughout its duration.
Business and Trade Secretary Kemi Badenoch said:
"Small businesses are the lifeblood of our local communities and drive the UK's economy, supporting jobs and wages across the country.
"This new council will mean SMEs have a clear voice at the table and we can deliver on the key needs for business."
The Prime Minister will also host a Downing Street panel featuring small business leaders. The event will include discussions on initiating and scaling successful businesses in the UK, emphasising the importance of talent, technology, and available support.
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