To ask His Majesty's Government what steps they are taking to boost the confidence of UK businesses during the current period of increased inflation.
Answered on
17 July 2023
Government has taken action to support small and medium-sized enterprises by reversing the National Insurance rise, saving small businesses £4,200 on average, as well as raising the Employment Allowance to £5,000.
Government also provides extensive support to all types of businesses including through Help to Grow: Management scheme, which helps SMEs across the UK learn new skills, reach more customers and boost profits.
Furthermore, businesses can access financial support provided through the British Business Bank. Our network of Growth Hubs across UK provides SMEs access to information and advice alongside our free Business Support Helpline.