SME Resources That Are Easily Accessible Help To Support Economic Growth
SME resources that are engaging and easily available to SMEs can be an effective way of supporting UK economic growth. Small firms represent an increasing proportion of private sector companies and since the crash of 2008, and the subsequent recovery their contribution has been crucial to the UK's economic recovery.
However, according to recent surveys, over half of all new start-up companies fail in the first 5 years. There are many reasons for this and often business failure cannot be attributed to any single factor. Fostering successful SMEs is advantageous to the local community, providing employment, increasing investment for an area, increased availability of products and/or services and offering diversification in the local economy. However, the benefits of successful SME don’t stop there. They also contribute to economic growth at the national level. Providing high quality small business resources is seen by many as one way to reduce the percentage of small and medium size business failures. Small businesses themselves cite tax regulations, late payments and lack of business lending by banks as being among the reasons why they encounter difficulty in continuing to trade in their chosen markets. Providers of SME news should therefore look at providing content in at least these areas. For example, looking at ways to diversify company finance, or at alternative forms of finance available to SMEs, or how to use the Enterprise Bill to end late payments? It should also explore initiatives that are available to small companies such as JEREMIE (EU finance for SMEs), research and development tax relief scheme and UK government cyber security grants.
View our engaging and informative SME resources at http://smeforgrowth.co.uk/. We welcome your comments on any aspect of our service. Get in touch by giving us a call on 020 8438 0616 or fill in our online form which you can also use to subscribe. At SME for Growth, we work collaboratively with key members of government and leading individuals from the business world to produce our engaging resources.