{"id":7971,"date":"2019-09-06T12:57:19","date_gmt":"2019-09-06T12:57:19","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=7971"},"modified":"2020-02-27T16:43:43","modified_gmt":"2020-02-27T16:43:43","slug":"new-business-finance-council-to-support-smes-through-brexit","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/","title":{"rendered":"UK Government To Establish A New Business Finance Council To Support SMEs Through Brexit"},"content":{"rendered":"
\"UK
UK Government To Establish A New Business Finance Council To Support SMEs Through Brexit<\/figcaption><\/figure>\n

Government ministers have met to set out plans for a new Business Finance Council to be established to support\u00a0SMEs\u00a0through Brexit.\u00a0Business, Treasury and Cabinet Office ministers met banking chiefs to encourage support for small businesses post-Brexit<\/a> through an increased availability of finance.<\/p>\n

The aim of this initiative is to give SMEs the best chance possible to succeed and seize opportunities that present themselves after the UK leaves the EU<\/a> on October 31st. The success of growing small businesses<\/a> will undoubtedly have a significant impact on the economy as a whole given that the SME sector makes up over 50% of jobs in Britain.<\/p>\n

Business Secretary Andrea Leadsom said: “Lenders must empower their\u00a0SME\u00a0customers to seize the huge variety of opportunities that lie ahead as we leave the EU on 31 October. Our new Business Finance Council will bring together key players, ensuring that finance continues to flow to our brilliant British businesses so they can do just that.”<\/em><\/p>\n

This support to British SMEs also was included in the review of the Spending Round<\/a>, which was also announced by\u00a0the Chancellor Sajid Javid. This will consist of\u00a0an additional \u00a32 billion set aside for\u00a0no-deal preparedness,<\/strong> however is still unclear how it will\u00a0reach those who need it most, not least the small firms that make-up 99 per cent of the UK economy. An extra \u00a360 million for the GREAT initiative is helpful, but SMEs need to see the introduction of \u00a33,000 Brexit vouchers alongside targeted support for exporters directly impacted by persistent uncertainty.<\/p>\n

This new spending round also contemplates long standing issues that most SMEs face like crime<\/strong> -rising\u00a0crime\u00a0is a massive concern for the UK small business community, collectively costing small businesses billions of pounds a year-, the commitment to full fibre access<\/strong> for all by 2025,\u00a0the stop-start approach to\u00a0infrastructure<\/strong> and\u00a0funding for\u00a0further education<\/strong>\u00a0institutions.<\/p>\n

Talking about the issue,\u00a0Federation of Small Businesses (FSB) National Chairman Mike Cherry,\u00a0commented that it\u2019s important to stress that what small firms really want is a return to an environment where they can plan for the long-term, and policymakers consistently tackle domestic challenges head on. With the latest UK economic data painting a bleak picture, small businesses urgently need tangible support on the ground.<\/p>\n

Likewise, CEO of IW Capital Luke Davis added: “SMEs are vital to the UK economy both for the jobs they create and the innovation they encourage. Ensuring that this sector is in the best possible position to make the most of future growth opportunities will make a huge difference in years to come.”<\/em><\/p>\n

“If this announcement is combined with extensions to the schemes that fund the SMEs left behind by banks, such as EIS, we could see a boom of growth. Investors want to support British businesses and firms want to grow, what we need to do is make this sentiment a reality”,<\/em> he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Government ministers have met to set out plans for a new Business Finance Council to be established to support\u00a0SMEs\u00a0through Brexit.\u00a0Business, Treasury and Cabinet Office ministers met banking chiefs to encourage support for small businesses post-Brexit through an increased availability of finance. The aim of this initiative is to give SMEs the best chance possible to […]<\/p>\n","protected":false},"author":7,"featured_media":7974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3585],"tags":[3468,3991,3993,3998,3600],"acf":[],"yoast_head":"\nUK Government To Establish A New Business Finance Council To Support SMEs Through Brexit - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"Government ministers have met to set out plans for a new Business Finance Council to be established to support\u00a0SMEs\u00a0through Brexit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Government To Establish A New Business Finance Council To Support SMEs Through Brexit\" \/>\n<meta property=\"og:description\" content=\"Government ministers have met to set out plans for a new Business Finance Council to be established to support\u00a0SMEs\u00a0through Brexit\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-06T12:57:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-27T16:43:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/09\/sajid-javid-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"823\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"UK Government To Establish A New Business Finance Council To Support SMEs Through Brexit\",\"datePublished\":\"2019-09-06T12:57:19+00:00\",\"dateModified\":\"2020-02-27T16:43:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\"},\"wordCount\":512,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"keywords\":[\"business\",\"small businesses\",\"SMEs\",\"UK economy\",\"UK SMEs\"],\"articleSection\":[\"Business Resources\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\",\"url\":\"https:\/\/www.footballthink.com\/new-business-finance-council-to-support-smes-through-brexit\/\",\"name\":\"UK Government To Establish A New Business Finance Council To Support SMEs Through Brexit - 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