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Government calls on the public to get out together and shop
local on Small Business Saturday
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National celebration of the UK's entrepreneurs comes off the
back of the flagship Small Business Plan to boost the
nation's 5.7m small businesses with the strongest reforms to
tackle late payments in 25 years
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New ‘Backing Your Business' campaign launched to help
businesses get what they need to thrive, from sole traders
and start-ups to high street shops and family
businesses
Help support your local small businesses this busy Christmas
period – that's the message from the government today as it calls
on friends, family, neighbours and colleagues to come together
and shop local on Small Business Saturday (6 December) – a
national celebration of the UK's entrepreneurs and the 5.7
million small businesses that power our economy.
Small businesses employ 60% of the UK workforce, generate £2.8
trillion in turnover, and are the backbone of communities across
the country. New data shows that supporting them this festive
season could deliver a £5 billion boost for SMEs, with spending
expected to rise 19% on last year.
The launch of the new Backing Your Business campaign comes
hot on the heels of the Government's flagship Small Business
Plan, which includes the strongest reforms to tackle late
payments in 25 years – designed to help sole traders, start-ups,
family firms and high street shops access the support they need
to thrive.
Business Secretary said:
“This country is home to some of the brightest entrepreneurs and
innovative businesses in the world and our Small Business
Plan is a key driver to accelerating that potential.
“This Small Business Saturday is a great chance to get out to
your local high streets and support small businesses.
“Whether it's your local shop, tradesperson, or high street
retailer, these are the people who work day and
night and power our communities and our economy.”
Ministers have been out and about vising a range of
inspiring small businesses in the lead up to Saturday, including
the innovative Stoke animation studio Carse and Waterman, award
winning Glaswegian sweet shop Jeavons Toffee, and London's
boutique dog groomers Bow Wow.
Michelle Ovens CBE, Director, Small Business Saturday UK
said:
“Small businesses are the nation's
favourites businesses and they are essential to both
their communities and the whole economy. Indeed our
research with American Express found 95% of people feel small
businesses add value to local areas and 84% believe the nation
needs to support them. At this crucial time of year for many
small firms it is vital that the nation remembers their favourite
small businesses and goes out to support them this Small Business
Saturday and beyond.”
If small business across the UK grow by just 1 percentage point
annually this could add £320 billion to the economy by 2030. As
well as the campaign, the government is focused on delivering for
small business by:
- Tackling late payments with the strongest reforms in 25
years, going further than any previous government.
- Putting more money in customers' pockets by taking £150 off
energy bills, and freezing rail fares and prescription charges.
- Raising the rate when small businesses start to pay national
insurance.
- Slashing electricity prices for thousands of manufacturing
businesses.
- Making training for under-25 apprenticeships free for small
businesses.
- Supporting working parents with 30 hours free childcare a
week saving £7,500.
- Capping the increase in business rates as pandemic support
measures taper off, with a £4.3 billion package meaning most
business property increases are capped at 15%.
- Doubling eligibility for enterprise tax incentives to
help fast-growing firms attract investment and talent.
- Slashing red tape so that more bars and pubs can expand
outdoor dining
Earlier this year, the flagship Small Business Plan was launched
alongside the Business Growth Service, which included a series of
measures aimed at boosting finance but also tackling the scourge
of late payments with proposed laws that would be the most
comprehensive reforms for 25 years.
The government has since worked closely with businesses and
concluded its consultation on late payments, and it will deliver
its response in the new year.
That finance package included a £4bn finance boost including £1bn
for start-ups with 69,000 Start-Up Loans and mentoring support,
and a further £3bn boost to the British Business Bank that will
help lenders offer more accessible small business loans through
the ENABLE programme.
See also
Small Business Saturday:
£35 million defence funding boosting innovation across the
UK
The Defence and Security Accelerator (DASA) unveils how its
financial backing for SMEs has helped take innovations from
concept to military deployment, while also transforming other
sectors like healhcare, transport and telecommunications.
From: Ministry of
Defence, Defence and Security
Accelerator and Luke Pollard MP
