Government money made available for SMEs
Nov 25 2008
PBR 2008 targets SMEs
In his Pre-Budget Report Alistair Darling has announced a £1 billion small business finance scheme to help struggling companies gain credit.
As part of a host of proposals targeted at SMEs, the chancellor pledged help to small businesses through improved access to credit and a proposed easing of their tax burden.
Speaking to SmallBusiness.co.uk, Phil Orford, chief executive of the Forum of Private Business, said both the finance scheme and proposed tax measures were good news for SMEs.
‘Although we are not yet sure of the mechanisms through which the finance scheme will be delivered – whether via banks or other channels – it has to be broadly welcomed.
‘For us the issue is whether small businesses will be aware of these initiatives, particularly as the finance scheme is only temporary.
‘We would urge all small businesses to go into the banks as soon as possible and enquire about the scheme. They should also ask specifically about the European investment money he announced seven high street banks have now made available.’
However, Orford said the proposed increase in National Insurance by half a percentage point in the next 18 months was the ‘sting in the tail’ for both employers and employees in the chancellor’s report.
Offsetting of losses against taxes for the next three years, and an increase in empty property rate relief on properties worth less than £15,000, were also among the roster of proposals made by the chancellor.
Comment by NAIERA KHAN
Wednesday 7th January 2009To much talk but NO help, no one is helping the small businesses.
The Government firstly needs to STOP the large Supermarkets from selling us small businesses out.
If small sole traders are to survive through any kind of recession the Government needs to address the problem first.
Large Supermarkets have taken over every thing you can think of, leaving small businesses to close their doors and not just lose the business but some their homes too.
The Supermarkets have closed down businesses like the small green groceries cafes, clothes shops small electrical businesses and the list can go on.
I cannot see any one helping me, it’s no good talking about it, and small businesses need financial help.
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Comment by Terry Hunter
Wednesday 14th January 2009I am in complete agreement with Ms Khan's comments above. I run a small furniture business and am finding it difficult to compete with a large local supermarket. I believe that the government should limit the supermarkets to only sell pre-packed food, drink and other similar items. This would allow local small businesses to flourish and create a good local economy which would bring the local community together as one.
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Comment by kathleen hall
Wednesday 10th June 2009Might be worth checking this out: http://www.smallbusiness.co.uk/channels/sales-and-marketing/dont-miss/1020722/small-businesses-v-supermarkets.thtml
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