Small Business Help Increases in a Variety of Ways

Over the last few years times have been tough for small businesses, with many going under during the recession and many more just managing to stay afloat by cutting excess everywhere they could.

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23rd May 2013 at 10:25 pm

Over the last few years times have been tough for small businesses, with many going under during the recession and many more just managing to stay afloat by cutting excess everywhere they could.

But it looks as though things may be on the up for small businesses as more assistance is being provided. Despite things appearing better, it doesn’t mean businesses shouldn’t try and cut costs where they can, however. For example, whether looking for business bank accounts, professional business insurance or hiring staff, the pennies still need to be counted.

Here are a few ways small businesses are getting a bit of assistance.

The Budget
The recent budget explained how up to 450,000 small businesses will not have to pay tax contributions from 2014, and introduced employment allowance that removed the first £2,000 from an employers’ national insurance contributions.(i) Hopefully cutting back for smaller businesses will soon be a distant memory.

Apprentices
But there is another shining light for small businesses at the moment; and that’s apprentices. In a recent study it was found that employers in England rated apprentices 15% more employable than those with other qualifications. The rise in apprentices has benefited both businesses and young people, who have also been affected substantially since the economic downturn, as they provide jobs, training and qualifications.(ii)

Last year alone the Government helped fund 4,230 placements during the second part of an apprenticeship scheme worth £25 million, which was an attempt to boost employment and help out businesses. This year the scheme will see apprenticeships available in 41 subjects, which will help businesses in a variety of sectors such as legal services, interactive media and space engineering to mention a few.(iii)

Help on a Saturday?
Aside from these schemes, a little thing called Small Business Saturday is set to make its way over here from the States towards the end of 2013. Small Business Saturday is an extremely popular event in the US, and last year it resulted in $5 billion in sales for small businesses. The event, which is backed by Shadow Business Secretary Chukka Umunna and several influential business groups such as the British Chamber of Commerce and the Federation of Small Business, became noticed in America during 2010 after it was backed by American Express.(iv)

With all this happening, it looks as though there’s plenty of hope for small businesses in the future and hopefully there will be more incentives to follow.

(i) http://www.guardian.co.uk/uk/2013/mar/20/budget-2013-small-firms-exempt-national-insurance

(ii) http://www.smallbusiness.co.uk/news/opportunities/2295088/small-business-employers-enthusiastic-about-apprenticeships.thtml

(iii) http://www.bbc.co.uk/news/uk-22058648

(iv) http://smallbiztrends.com/2013/04/small-business-saturday-uk.html

Jane Tchan

Jane Tchan is editor of SmallBizPod. She has more than 30 years of experience gained from working across a diverse range of industries, including tourism and leisure, retailing, sports sponsorship and food. During that time she has edited a variety of publications and online media http://www.smallbizpod.co.uk

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