Support For Small Businesses

Lib Dems call for more support for small businesses.

Fining big suppliers who fail to pay up on time and improving broadband access are at the heart of a plan to help small businesses launched by the Liberal Democrats today.

Liberal Democrats have used Small Business Saturday (December 5) to set out the five point plan.They said more needs to be done to support the small and micro business owners, including ensuring they have access to a well-educated, highly-skilled workforce, and access to finance to help them grow.

The plan aims to support the ‘small for good’ businesses that are the backbone of local communities, as well as the ‘small for now’ businesses, with big ambitions to grow rapidly.

The five point plan includes:

Give the new Small Business Commissioner real teeth to tackle late payments by big businesses, including fining big suppliers who regularly fail to pay on time.

Boost access to finance by requiring diversity within the financial sector, including encouraging new online lenders and supporting a regional banking network.

Ensuring businesses get the skills they need, by investing rather than cutting Further Education, supporting apprenticesips and creating new training programmes.

Ensure businesses have access to high quality broadband by investing now in a real high speed universal services to every part of the country.

Support small businesses with big ambitions to scale up, by encouraging a new generation of venture capitalists to invest in good ideas and promote business growth through equity financing rather than debt.

Lib Dem Leader, Tim Farron, said:

“Small Business Saturday is a great time to go out and support local businesses in your community in the run up to Christmas. It’s also a chance to say ‘thank you’ for all the work small businesses owners do up and down the country.

"But Lib Dems want to do more- our 5 point plan will support small businesses by fight for decent access to finance, tackling late payments and supporting those with ambitions to grow to do just that.