The Chancellor, Rishi Sunak, is set to announce plans to help the UK\u2019s economic recovery by unveiling a new \u2018help to grow\u2019 scheme for small to medium-sized enterprises (SMEs).<\/p>\n
The \u00a3520 million scheme will be aimed at the leaders of 130,000 SMEs in the UK as the Government looks to boost economic recovery in the wake of the coronavirus pandemic.<\/p>\n
The scheme will offer training on management skills and provide business owners with access to discounted digital software and expert technological advice.<\/p>\n
It is expected that thousands of small businesses will take advantage of the scheme to level up their business with top quality management training that might ordinarily only be attainable for larger businesses.<\/p>\n
The Treasury has stated that recent studies have indicated that improving the performance of UK SMEs to match competitors in the EU such as Germany could provide a \u00a3100 billion boost to the economy.<\/p>\n
Experts have also pointed to productivity as a key issue to tackle, with the UK facing a 16 per cent deficit in \u2018output per hour worked\u2019 when compared with other members of the G7 in France, Italy, Canada and Japan, while the gap to Germany and the US is more than 20 per cent.<\/p>\n
Under the scheme, eligible SMEs will be given vouchers to receive up to 50 per cent off the purchase of software that enhances productivity, up to a cap of \u00a35,000.<\/p>\n
The Chancellor, Rishi Sunak, said: \u201cOur brilliant SMEs are the backbone of our economy, creating jobs and generating prosperity \u2013 so it\u2019s vital they can access the tools they need to succeed.<\/p>\n
\u201cHelp to Grow will ensure they are embracing the latest technology and management training, fuelling our plan for jobs by boosting productivity in all corners of the UK.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Chancellor, Rishi Sunak, is set to announce plans to help the UK\u2019s economic recovery by unveiling a new \u2018help to grow\u2019 scheme for small to medium-sized enterprises (SMEs).<\/p>\n","protected":false},"author":2,"featured_media":3984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,79,112,73,57,25,4,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3982"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3982"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3982\/revisions"}],"predecessor-version":[{"id":3983,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3982\/revisions\/3983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/3984"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}