The Government launches the Small Business Plan to improve the everyday lives of small businesses

The government’s plan supports small businesses now and in the future. This includes wide-ranging late payment reform, a new Business Growth Service to help SMEs find the right advice and support, and additional funding and powers to revitalise the high street. 

The Small Business Plan details the following late payment commitments:   

• A new late payments package, including legislation, that will save SMEs time and money chasing invoices, and improve cash flow. 

• The government’s continued commitment to the Fair Payment Code Increasing enforcement of requirements for large companies to publish their payment performance information. 

Alongside the Plan’s launch is a public consultation to test a coherent package of measures to ensure businesses are paid fairly and on time which includes new powers for the Small Business Commissioner.  

On the launch of the Small Business Strategy, Small Business Commissioner Emma Jones said: 

Today the Small Business Plan has been launched which sets out the government’s priorities when it comes to encouraging new start-ups and supporting existing businesses to grow. 

Freeing up founder time will realise the ambition of other elements in the Small Business Plan, with its vision for businesses to be healthily trading on the High Street, through to selling products and services overseas and making the most of the UK’s now multiple Free Trade Agreements. 

Today is a day that celebrates the incredible role small businesses play in the economy. The Plan is a public commitment to continued work to ensure you have the conditions in place for business to flourish.