Shropshire Chamber of Commerce welcomes Small Business Plan

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Shropshire Chamber of Commerce welcomes Small Business Plan

Shropshire Chamber of Commerce has praised the Government’s new Small Business Plan.

The plan, announced this week, includes a £1 billion boost for start-ups, extra mentoring support, and legislation to enforce payment terms.

A Business Growth Service will also be established to provide SMEs with easier access to advice, funding, and support.

Ruth Ross, chief executive of Shropshire Chamber of Commerce, said: “Small businesses are the backbone of our local economy.

“This is a much-needed step forward in recognition and support for SMEs.

“Late payments, access to finance, and business support are all issues which we know have held back many smaller firms.”

She highlighted late payments as a significant obstacle to growth, often affecting the cash flow of the smallest companies.

Research from the British Chambers of Commerce shows that three-quarters of firms have at some point been paid late, with more than a quarter of these saying it had an impact on their operations.

However, Ms Ross emphasised the importance of balance and welcomed plans for consultation.

She also noted the potential of the online Business Growth Service: “It will make it easier for them to connect with our team here at Shropshire Chamber, which plays a crucial role in delivering business support and creating opportunities across their communities.”

Source: Google News

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