It’s time therefore to “reignite SME Growth and Competitiveness”. biz4Biz is currently trying to persuade Government to support a scheme delivered by LEP’s nationally to provide a funding package to SME’s to develop their personal skills and which will utilise the services of Growth Hubs nationally, working with both Universities and mentoring organisations locally, to deliver this service personally or online. We would like to establish a version of “Growth Accelerator” Mk2 right now, where each SME will be funded to learn and accelerate a better understanding of their business, helping entrepreneurs focus on the very important parts of their business that make them the best return and shorten the typical learning curve of the average successful business. Of the 5,896,000 Businesses nationwide, 247,000 employ the most people in the 10-249 range, technically seen as SME’s and collectively supporting 30.5% of the £55.7 Bn Corporation Tax revenues generated annually. If we could reach 10% of these annually and boost their profits by 10% every year, the boost in income to the Exchequer would be significant year on year compounded and more than adequately cover the cost of implementing this scheme at say £125m annually. It is time to recognise the enthusiasm, commitment, work and income being delivered and derived by and from SME’s and there has never been a better time or more important opportunity to support them.
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