New government growth service to save small business time and money

Businesses across the UK will be able to get quicker and easier help, support and advice, thanks to a new service that will help them grow and thrive, announced by the Business Secretary to mark Small Business Saturday [Saturday 7 December]. 

Small businesses consistently say that they find the business support landscape fragmented and complex, with only 26% of UK SME employers reporting in 2023 to have sought external advice or information in the last year. 

The Business Growth Service has been designed to address this, offering a sleek, UK-wide business support system with a revamped web offer, launching in the first half of 2025. It will be developed and will work in partnership with small businesses, local and devolved governments across the UK, with locally led delivery at its core, to ensure the service provides the information and resources smaller firms need from government.   

Inspired by successful business support agencies internationally, the Business Growth Service will be an integral part of the Small Business Strategy that will be published in 2025.  

The average small business owner spends over 33 hours every month on internal business admin – valuable time which the government aims to decrease through the new streamlined service which will signpost small firms to practical help. 

This, alongside a raft of other measures announced in the run up to Small Business Saturday, confirms the government's commitment to the nation's small firms and self-employed individuals who are vital to wealth creation and economic growth.  

Business and Trade Secretary, Jonathan Reynolds, said:   

“We said we'd deliver change for small businesses, and that's exactly what we are doing.   

“This government's Plan for Change will deliver economic growth, and for that to succeed we need SMEs right across the country to be exporting, hiring, and expanding.   

“That's why we're working tirelessly to ensure every small business has the tools and support at their disposal to thrive.”   

Businesses have faced unprecedented challenges over the past few years including soaring inflation, interest rates and sky high energy bills. That's why the government's first priority is to fix the foundations and restore economic stability.     

This news comes after a week of activity in the run up to today's celebration of small firms where a new Fair Payment Code was unveiled to tackle late payments, and a new Banks-backed initiative was launched to support disabled entrepreneurs get improved access to finance and support and a new scheme started    

In the five months since this government took office, it has been committed to supporting small businesses right across the country. A series of pledges were made to support SMEs, which have all progressed in some way, proving the government's commitment to its promises.   

The government pledged to:   

• Tackle late payments – we have increased our enforcement of the existing payment performance reporting regulations, started work on secondary legislation in this parliamentary session requiring large companies to include payment performance headlines in their annual reports, announced a consultation in the coming months on new measures to go further in tackling late payments, and launched a new Fair Payment Code.   

• Scrap business rates – we have frozen the small business multiplier and extended business rates relief for retail, hospitality and leisure sectors and announced a discussion paper to work with industry to create a fairer business rates system fit for the 21^st century    

• Revitalise our high streets – new powers awarded to councils so they can fill empty premises blighting our high streets, launched dozens of new banking hubs, scrapped the immunity for low-value shoplifting and cracked down on organised gangs who target retailers   

• Boost small business exports – We've launched a new European exporting webinar programme, begun a new Export Support Directory to link SMEs with expert advice on the ground, and unveiled a new scheme in Greater Manchester working in partnership with regional authorities to support local exporters   

The Budget also confirmed £1 billion for the British Business Bank to enhance access to finance for smaller businesses through Start Up Loans; the ENABLE Build; the Growth Guarantee Scheme and the Life Sciences Investment Programme.   

Minister for Employment, Alison McGovern MP said: 

“This Small Business Saturday let's support the UK's incredible small, independent firms.  

“We are making sure small businesses have the skilled staff they need to grow and succeed through our Get Britain Working Plan.  

“And if you are a small business owner, I encourage you to think about using our brilliant Jobcentres the next time you need to hire – we stand ready to help you recruit and find your next star employee.” 

Founder of Small Business Britain Michelle Ovens CBE said: 

"On Small Business Saturday, the nation's thoughts turn to the smallest of businesses, the heart and soul of communities and the economy. So we are thrilled that today the new Business Growth Service is launched to put small businesses at the very centre of Government and ensure that businesses get all the support they need to succeed. A thriving small business community leads to a thriving country, so we look forward to working with the Government to further develop this initiative in 2025." 

Among the other small business pledges, the government has reformed the apprenticeship levy to address the skills needs for the next decade across all regions. A new investment package will boost growth, support small builders, and drive Britain's construction efforts.   

Great British Energy will lower bills and unlock green tech opportunities for SMEs. We've committed £1 billion to the British Business Bank to help start-ups scale. Finally, the Procurement Act, live from 24 February 2025, will simplify SME access to public sector supply chains.   

With the Small Business Strategy coming in the new year, the work of supporting the nation's 5.5 million small businesses is far from over and government is focused on delivering the tools every SME needs.   

Small Business Saturday, run by Small Business Britain, each year aims to shine a spotlight on SMEs across the country by encouraging shoppers especially in the run up to Christmas, to shop small.