SME’s need more Government help

Chairman of the FSB (Federation of Small Businesses), John Wright, said that small firms will continue to need aid in the coming year as they launch their recovery plans which will be dependent largely on help from banks.

Wright stated that Britain’s 5m SMEs will have a large role in bringing the UK out of the recession but that they need help in order to get there.  Among the aid they will need from the Government, according to the chairman, are measures that will make it easier to hire employees and set up businesses.

He suggested that every jobcentre should have a business manager and systems should be enacted that would help place graduates with small businesses that need qualified employees.

In his New Year message Wright also said that banks need to be more competitive in offering finance options to small businesses.   He stated that with the proper confidence and aid the SMEs will in return help provide jobs to those in need which will help boost recovery efforts throughout the UK.

A spokesman for the Department of Business stated that small business will help recovery and the Government has pledged to help the sector out which is why they lengthened the Enterprise Finance Guarantee for another year so that banks will continue to lend to smaller businesses.

Additionally the spokesman said that they are working with the FSB to pair 10,000 graduates with internships at SMEs.