By KLTV Newsdesk –

Small and medium-sized enterprises (SMEs) across the UK are set to benefit from a newly launched service aimed at simplifying access to government advice and support.

The Business Growth Service, announced by Business Secretary Jonathan Reynolds, promises to make it easier and quicker for SMEs to find the help they need to grow and thrive.

Tackling Complexity in Business Support

The fragmented and complex nature of the current business support landscape has been a long-standing issue for small business owners.

Only 26% of UK SME employers sought external advice or information in the past year, highlighting the need for a more streamlined approach.

The new Business Growth Service, launching in the first half of 2025, is designed to address this challenge by providing a sleek, UK-wide support system.

Key Features of the Business Growth Service

The revamped service will feature an enhanced web offering and work in partnership with small businesses and local and devolved governments across the UK.

With locally led delivery at its core, the service aims to provide the necessary information and resources to smaller firms.

The average small business owner spends over 33 hours monthly on internal business administration—time the government aims to reduce through this initiative.

Government’s Commitment to Small Businesses

This announcement comes as part of a broader week of government and private sector actions to help small businesses grow, confirming the government’s dedication to the nation’s small firms and self-employed individuals.

Business and Trade Secretary Jonathan Reynolds emphasised the importance of SMEs in driving economic growth: “We said we’d deliver change for small businesses, and that’s exactly what we are doing. This government’s Plan for Change will deliver economic growth, and for that to succeed, we need SMEs right across the country to be exporting, hiring, and expanding.”

Addressing Recent Economic Challenges

The past few years have presented unprecedented challenges for businesses, including soaring inflation, interest rates, and high energy bills.

The government’s priority is to restore economic stability and provide small businesses with the tools and support necessary to thrive.

Recent measures include the introduction of a new Fair Payment Code to tackle late payments and a Bank-backed initiative to support disabled entrepreneurs.

Ongoing Support and Future Plans

Since taking office, the government has made several pledges to support SMEs, including:

• Tackling late payments through increased enforcement of payment performance reporting regulations and the introduction of a new Fair Payment Code.
• Reforming business rates to create a fairer system that supports high street investment and protects retail, hospitality, and leisure properties.
• Revitalising high streets by granting new powers to councils, launching new banking hubs, and cracking down on shoplifting and organised retail crime.
• Boosting small business exports with new programmes and support schemes.

The Budget also confirmed £1 billion for the British Business Bank to enhance access to finance for smaller businesses, including Start-Up Loans and the Growth Guarantee Scheme.

Celebrating Small Business Saturday

Small Business Saturday, run by Small Business Britain, aims to highlight the importance of SMEs by encouraging shoppers to support small businesses, especially during the Christmas season. Michelle Ovens CBE, Founder of Small Business Britain, praised the new initiative:

“On Small Business Saturday, the nation’s thoughts turn to the smallest of businesses, the heart and soul of communities and the economy.

“We are thrilled that today the new Business Growth Service is launched to put small businesses at the very centre of Government and ensure that businesses get all the support they need to succeed.”

A Future-Focused Strategy

With the Small Business Strategy set to be published in 2025, the government’s work to support the nation’s 5.5 million small businesses is far from over.

The upcoming Procurement Act, effective from February 2025, will further simplify SME access to public sector supply chains, ensuring that the necessary support continues to be available.

Tina McKenzie, Policy Chair at the Federation of Small Businesses, welcomed the new service: “Business support has a key role in helping small businesses grow, improve sales, find financial assistance, and comply with regulations and taxation.

“We look forward to working together with Government to make sure the new Business Growth Service delivers for small firms.”

As the government continues to roll out these initiatives, the focus remains on delivering the tools and support every SME needs to succeed and contribute to the UK’s economic growth.