Future of UK Small Businesses Needs Strong Partnerships and Government Support

We started life back in 2005 because of the need for a simple solution to document destruction needs in Birmingham. Our angle? Our service is mobile and has been exceptionally well managed from its humble beginnings. We understand what it takes to grow a small business, so we always follow small business development initiatives in the UK with piqued interest.

Saving the Economy?

According to The Financial Times, the UK could finally be emerging a little from recession-hit times (the economy grew 1% in the last quarter) But leaving behind a double-dip recession the longest such period since the second world war doesn’t mean UK businesses can relax. Small business lending is down on the same period last year, and with tax rises on the way, it could be small and medium sized businesses (SMEs) that are hit yet again unless something is done to protect them; a measure experts say could strengthen our economy more than anticipated.

Financial analysts cite SMEs as being exceptionally important to economic recovery. Historically speaking, SMEs have boosted economic growth to end the likes of America’s Great Depression and Europe’s post-ware debt. We need SMEs to plug gaps in the market, strengthening local and national economic promise.

Government Help

In the past year, two government initiatives have caught our eye. The first was a £30 billion scheme in which the current UK government provided Bank of England loans at very favourable rates to some of the UK’s biggest banks. The money was loaned on the proviso it be used for things like first-time mortgage buyers and SMEs who have previously had trouble accessing credit, even if performing well.

The second was announced in early October and will be a £13 million fund set up to encourage SMEs to enter export markets. The money will mostly be split between the Tradeshow Access Programme (TAP), which helps SMEs travel overseas to events and tradeshows that could generate new leads, and the Overseas Market Introduction Service (OMIT) which supplies new exporters with research into their target foreign markets. The remaining £4 million will go towards helping SMEs access specific existing foreign leads and attracting overseas investment to the UK.

Effective Partnerships

Our document shredding services extend to SMEs all over the Midlands, and something we see on a regular basis is how much the right local, national and international partnerships can boost the effectiveness of SMEs. We’ve grown to provide confidential paper shredding and associated services over a large area, but we believe we’re superbly suited to small business partnership because we’re flexible, adaptable and ready to work with what you need as an SME. It’s this kind of attitude that SMEs need to thrive. The Federation of Small Businesses (FSB) say partnerships between local businesses, local government and national government are the key to creating a strong network of UK small business that could help the UK find its financial feet again.