The government’s new Business Growth Service, which aims to bring together central, devolved, and local business support in one place, is being showcased at the first in a series of events.
The UK roadshow began today in Newcastle with an event attended by around 100 small businesses, and support providers including North East Combined Authority, Innovate UK, Sunderland University, and UK Export Finance.
The Business Growth Service, launched in July as part of the government’s small business plan, is described as “a one stop shop for business advice and practical support – from funding and advisory services to tailored growth programmes”.
According to ERC research, businesses that access external advice see an average increase of 22% in productivity, and the government says that if SMEs grow by just one percentage point per year, it would result in £320 billion for the UK economy by 2030.
Small business minister Blair McDougall said:
“Small businesses are the backbone of the economy, and the heart of our growth mission, which is why we are determined to see them thriving in every part of the UK.
“Through this new roadshow, kicking off today in Newcastle, we are levelling the playing field for support, finance and advice, so that all SMEs have access to the support they need to start up, grow, and succeed.”
Dr Henry Kippin, chief executive, North East Combined Authority, said:
“The North East is home to some of the most innovative and resilient businesses in the country, from advanced manufacturing to cutting-edge digital firms. This roadshow is a fantastic opportunity to connect our SMEs with the support they need to grow and thrive.
“By bringing national and local partners together under one roof, we’re making it easier for businesses to access advice, funding, and expertise – and that’s vital for driving inclusive economic growth across our region.”
As well as the Business Growth Service, the government’s small business plan includes measures aimed at tackling the issue of late payments, boosting access to finance for entrepreneurs, addressing the impact of personal guarantees on small business owners and cutting red tape for physical venues.