Chancellor Rishi Sunak to give £520million ‘shot in the arm’ boost to Britain’s small businesses
RISHI Sunak will give a £520million “shot in the arm” to Britain’s army of small businesses to help the nation recover from the Covid recession.
The Chancellor wants to use the cash to help small firms act like City giants so they get a bigger slice of lucrative online sales.
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Under the ‘Help to Grow’ scheme, which will be unveiled in Wednesday’s Budget, businesses will get up to £5,000 in vouchers to help improve their IT and become more productive.
They will also be able to get management training from Britain’s world-beating business schools.
Mr Sunak said: “Our brilliant SMEs are the backbone of our economy, creating jobs and generating prosperity – so it’s vital they can access the tools they need to succeed “Help to Grow will ensure they are embracing the latest technology and management training, fuelling our Plan for Jobs by boosting productivity in all corners of the UK.”
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Small businesses will be able to get up to 50 hours of tuition from Britain’s business schools.
They can get tips on how to be more competitive, and one to one mentoring support from a business mentor.
Treasury bosses reckon this will improve Britain’s infamously low productivity and help local businesses take on the giants at their own game.
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