Small Businesses: Operating Costs
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of changes in operating costs on small and medium-sized enterprises in the past 12 months.
Answered by Blair McDougall
The Department for Business and Trade recognises that SMEs are facing a challenging set of cost pressures, exacerbated by the ongoing situation in the Middle East. To support SMEs bring down costs and improve cashflow, the Government has introduced a £4.3 billion transitional support package on business rates, protected apprenticeship funding for SMEs, committed to cut the annual administrative burden of regulation by £5.6bn in this parliament and are introducing the Commercial Payments Bill to make sure small businesses are paid on time. The Business Growth Service also provides businesses with access to practical help to navigate current economic pressures.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →