Consumer spending is down, and so are the hopes of many small firms – yet the Federation of Small Businesses is coming to the aid of concerned SMEs everywhere.
The Federation, a campaign group for small businesses, has launched a new campaign to secure local help for smaller firms in need of support in the face of economic uncertainty. The FSB would like to see not just the Government but also local authorities do more to provide relief for SMEs, including relaxing business rates in light of the seemingly rampant increases to the consumer price index, which has filled many an employer and worker alike with concern as it keeps creeping upward, making the price of everyday things just that much more expensive.
The FSB would also like to see infrastructure improvements be addressed as well, claiming that local businesses can experience a boost in trade by having customers and clients obtain greater access to parking, planning, and procurement. This could not just help the bottom line of small businesses through increased sales but also open up growth opportunities, something that could benefit the nation’s umbrella company contractors; small firms can often save quite a bit on their payroll costs by using a contractor or a freelancer in lieu of a permanent employee, which means even that much more possible growth opportunity for SMEs.
The Government does have plans to provide better local small business funding already, what with the plans for the introduction of Local Enterprise Partnerships. These LEPs will handle the disbursement of funds within each of their local authorities, either through low-cost business loans subsidised by the Government or grants designed to help get a small business off the ground and running.
Hopes are high that programmes such as the LEP scheme and whatever attention the FSB can drum up could help turn concerns that small business owners have about the viability of their firms into confidence in being able to grow and prosper, even in an economic landscape that leaves much to be desired. For what it’s worth, the economic recovery has been so slow and sluggish that I’m not the only one worrying about a possible ‘triple dip’ recession; many economic experts are ready to throw in the towel at this point and just start stuffing pound notes into their mattresses at home.
Well, not really, of course. Still, the UK is in better shape than other eurozone countries, so we should be grateful for that, right? I mean, we could be Greece. Poor bastards.
