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26 Feb 2024 / Uncategorized

Putting SMEs front and centre in 2024

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As the Government rolls out its Help to Grow campaign, designed to boost small businesses across the UK, our Chief Executive, Ed Rimmer, explores the measures that will help the business community and shares his thoughts on why every year should be the year of the SME.

We work with 11,000 British businesses and as a funder to SMEs, we are very familiar with the challenges they face. SMEs don’t just make up 99.9% of our country’s businesses, they also represent the most entrepreneurial, ambitious and bold amongst the business community. The Government’s Help to Grow campaign is a positive move; it puts SMEs rightly at the forefront of our economic strength and includes measures to empower them, support their growth and resilience. But we should also acknowledge the long-standing contributions SMES have made to the economy.

Giving business Help to Grow

Launched just this month, the Government’s refreshed Help to Grow campaign aims to provide targeted support to SMEs to enable them to be more innovative and competitive, drive job creation and contribute to overall economic stability. The big news of the campaign is the launch of the Small Business Council, which will bring together SME leaders to create a forum and empower them to have a voice on the issues that impact them, whether its cash flow, SME finance or business planning.

Through its Help to Grow campaign, the Government has also created a one-stop-shop for SMEs where they can access a comprehensive range of resources and support, including funding information, webinars, training and other SME business support resources to help get businesses on a path to growth. This includes the new Help to Grow Management Course, a 90% Government subsidised, 12-week programme designed to equip business owners and managers with the necessary leadership skills to lead and manage their teams effectively.

Ensuring SME support is holistic

This move by the Government puts substance behind everything the Chancellor has said over the past year about cultivating the best conditions for risk-taking entrepreneurs to thrive in Britain. It will breed optimism, which is critical for both business and economic prosperity.

At Time Finance, our approach to supporting our SME customers is to always take a holistic approach to their funding needs, and ensuring the products or services we provide are bespoke to their needs. This is something we share with the Government’s Help to Grow campaign - we offer extensive support to nurture SMEs and encourage their potential.

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