{"id":6100,"date":"2024-12-04T09:35:40","date_gmt":"2024-12-04T09:35:40","guid":{"rendered":"https:\/\/www.bainesjewitt.co.uk\/blog\/?p=6100"},"modified":"2024-12-04T09:35:42","modified_gmt":"2024-12-04T09:35:42","slug":"government-boost-for-smes-ahead-of-small-business-saturday","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/government-boost-for-smes-ahead-of-small-business-saturday\/","title":{"rendered":"Government boost for SMEs ahead of Small Business Saturday\u00a0"},"content":{"rendered":"<p><span data-contrast=\"auto\">Small Business Saturday takes place this week, and this year it comes with exciting news for small business owners.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><!--more--><\/p>\n<p><span data-contrast=\"auto\">The Government has announced a new package of measures designed to support small and medium-sized enterprises (SMEs), making this the perfect time to take stock of your business and plan for growth.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">These measures include the launch of the Fair Payment Code, aimed at tackling the \u00a322,000 in late payments SMEs are owed annually, and a Disability Finance Code, designed to improve access to funding for disabled entrepreneurs.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Both initiatives highlight a growing commitment to creating a fairer, more supportive business environment, helping small firms thrive and contribute to the UK\u2019s economic recovery.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">What the new measures mean for your business<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Late payments are one of the biggest challenges small businesses face, with research showing they can push many firms into financial difficulty.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Fair Payment Code introduces a gold, silver, and bronze rating system, rewarding businesses with excellent payment practices and helping SMEs identify trustworthy partners.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If your business has struggled with cash flow due to delayed payments, this initiative could be a game-changer, boosting financial stability and enabling you to focus on growth rather than chasing overdue invoices.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Disability Finance Code<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Disabled business owners often face additional hurdles when trying to access funding.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Disability Finance Code, backed by major UK banks like Barclays and NatWest, aims to change that.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">By improving access to finance, mentoring opportunities, and showcasing disabled success stories, the initiative promises to unlock \u00a3230 billion in untapped potential within the economy.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For SMEs, this code offers a pathway to greater financial support and opportunity.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Other key measures to fuel SME growth<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Extended business rates relief and Employment Allowance<\/span><\/b><span data-contrast=\"auto\"> \u2013 The increased Employment Allowance, now at a record \u00a310,500, and lower taxes on retail, hospitality, and leisure sectors aim to ease the financial strain on small businesses.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Focus on female entrepreneurship<\/span><\/b><span data-contrast=\"auto\"> \u2013 A new partnership between Female Founder Finance and UK Export Finance will offer no-cost services to help female-led businesses access finance and expand their networks.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">How to make the most of these opportunities<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While these measures provide a fantastic foundation, their impact depends on how you use them. Consider these steps to maximise the benefits:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Get ahead with cash flow management<\/span><\/b><span data-contrast=\"auto\"> \u2013 Sign up for the Fair Payment Code and implement best practices to ensure prompt payments.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Explore funding options<\/span><\/b><span data-contrast=\"auto\"> \u2013 Disabled entrepreneurs can take advantage of the new financial products and mentoring schemes offered under the Disability Finance Code.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Claim your allowances<\/span><\/b><span data-contrast=\"auto\"> \u2013 Make sure you are claiming the extended Employment Allowance and any other reliefs available to your business.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Contact us today to learn more about the Government\u2019s new initiatives and how we<\/span><\/b> <b><span data-contrast=\"auto\">can help your business make the most of these opportunities.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small Business Saturday takes place this week, and this year it comes with exciting news for small business owners.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":6103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,125],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6100"}],"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=6100"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6100\/revisions"}],"predecessor-version":[{"id":6101,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6100\/revisions\/6101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/6103"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}