Government Growth Service Launched to Streamline Business Support
Seeking to address the concerns voiced by SMEs regarding finding government guidance, the UK government has recently introduced the Business Growth Service. The service will make it simpler for SMEs to access fragmented government resources and information by bringing them under a single platform.
The Business Growth Service has been seen as a cornerstone of the Small Business Strategy. It brings together small businesses, local authorities, and devolved governments, streamlining communications between them and ensuring effective information and service delivery from the government.
Supporting SMEs in Overcoming Challenges
Small businesses in the UK have been facing several problems in recent times, with complex regulatory requirements being one of them. Data shows that an average SME owner in the United Kingdom spends 33 hours a month on internal business administration. The service hopes to help owners save time and money by offering them seamless access to practical resources and tools.
In addition to the growth service, the government has also introduced other measures to support small firms. This includes the Fair Payment Code to tackle late payments and the extension of business rate relief for key sectors. Similarly, there will be lower tax rates for high street businesses from 2026. Finally, the government will be allocating £1 billion through the British Business Bank to improve access to SME finance.
Increased Focus on Building Skills and Promoting Exports
The UK government has also recognized the importance of equipping SMEs with appropriate skills and resources. Businesses are encouraged to collaborate with job centres to hire skilled employees through the “Get Britain Working Plan.” Furthermore, new exporting programmes and directories will help to connect SMEs with international opportunities.
The above efforts are being complemented by reforms to the apprenticeship levy to address skill shortages and an investment package to support small builders and construction firms. Additionally, the upcoming Procurement Act in 2025 will simplify SMEs’ access to public sector supply chains.
Looking Ahead to a Thriving Small Business Community
The government’s ongoing commitment to small businesses is reflected in the development of the Business Growth Service and the broader Small Business Strategy, which will be published next year. These initiatives align with the aim of creating a pro-business environment that supports entrepreneurship, job creation, and sustainable growth.
