Shropshire Chamber of Commerce has given an enthusiastic welcome to the Government’s new Small Business Plan, describing it as an ‘important step forward’ for a vital part of the county’s economy.
The proposals include a £1 billion boost for new start-ups, extra mentoring support, and new legislation to enforce payment terms – regularly cited as one of the biggest headaches for small firms.
A new Business Growth Service will also be created to help SMEs access advice, funding and support more easily.
Ruth Ross, Shropshire Chamber of Commerce chief executive, said: “Small businesses are the backbone of our local economy – latest figures show we have well over 20,000 SMEs across the county, making up around two thirds of the workforce.
“This is a much-needed step forward in recognition and support for SMEs. Late payments, access to finance and business support are all issues which we know have held back many smaller firms. 
“Late payments in particular – regularly highlighted in Shropshire Chamber’s quarterly economic survey - are an established barrier to economic and business growth, and hit the cashflow of smallest companies the hardest.
“Research from the British Chambers of Commerce shows that three quarters of firms have, at some point, been paid late, with more than a quarter of those saying that this had an impact on their operations. So this is an important step forward, but it is vital to get the balance right, and we welcome plans for consultation.
“We believe the online Business Growth Service will also be a valuable signpost to support and advice for firms. It will make it easier for them to connect with our team here at Shropshire Chamber, which plays a crucial role in delivering business support and creating opportunities across their communities.”
Alex Veitch, director of policy at the BCC, added: “It is welcome to see the plan featuring exports, as trade will be a key driver of growth going forward. However, more will be needed to help SMEs capitalise on the opportunities.
“Recognition around supporting businesses with technology adoption is also key. The BCC has been involved in the SME Digital Adoption Taskforce, and we look forward to taking that work forward to help smaller firms embrace AI and technology.
“But businesses are still struggling with a mounting wall of costs and will want to see longer-term reform of business rates and no further tax increases heaped upon them.
“For the Government to achieve its Growth Mission, people need to stay in work and firms need to invest. The various strategies and plans published by the government over the last few months have set the strategic direction of travel.
“Now we need to see funding and real-world support to implement these policies, drive growth and reduce the cost of doing business.”
Pictured: Shropshire Chamber of Commerce chief executive Ruth Ross
