Rishi Sunak is organizing a roundtable for SMEs with the Minister of Finance, visiting small businesses and launching a nationwide Google skills training tour.
The proposed government support is highlighted in the letter to thousands of SMEs, including cuts in employment taxes and business rates, as well as support for their growth and growth.
The Chancellor today welcomes small business as the “heart of our economy”, talking about how the government supports firms in training and investment, helps the economy recover and grow, and supports jobs during the Suffolk tour.
Rishi Sunak held a roundtable – at Suffolk Food Hall – with local SMEs that took advantage of the Growth Assistance: Governance program to discuss how the government scheme supports them.
He was joined by Finance Minister Helen Waitley, and he visited local businesses including a bakery, gardening and gift shop before launching a nationwide Google Digital Garage skills training tour at an event held at Ipswich Football Club.
This included day seminars and mentoring to support SMEs in gaining new digital skills to grow their business and improve productivity. Levi Roots, the entrepreneur who creates the Reggae Reggae sauce, was also present to share tips with local businesses.
Today, the government has written to thousands of small and medium-sized enterprises (SMEs) that teach state aid that is available to them, including lowering employment taxes and business rates, and supporting their growth and growth.
Following the visits, Treasury Chancellor Rishi Sunak said:
Small businesses are at the heart of our economy, creating jobs and prosperity across the UK. It was inspiring to meet so many of them in Suffolk today.
I want them to know that we will always stand behind them, so we have written to thousands of businesses across the country to highlight the government’s offer to support them in the coming uncertain months.
From lowering employment taxes and rates for business, to encouraging firms to learning and investing more, we want to create the conditions for the development of our SMEs by helping the economy recover and grow, as well as sustain jobs.
Google CEO Ronan Harris of the UK and Ireland said:
The UK’s growing digital economy has created opportunities for the development of a record number of UK businesses, and we are committed to helping them make the most of this opportunity as they adapt to the hybrid world.
That’s why we’re launching the next phase of our personal digital skills training and offering Google Career Certificates scholarships to help small businesses develop the high-tech skills needed to maximize their earning potential and level up.
In Ipswich, the chancellor and finance minister also visited some small independent businesses in the city center. This included a souvenir shop, a coffee shop and a Ukrainian affordable women’s clothing store, the owner of which is assisting in hostilities.
The Chancellor announced a number of measures in Spring statement to help businesses boost investment, innovation and growth – including a £ 1,000 increase in employment aid to benefit around half a million small firms.
Five ways the government supports SMEs:
1) Reduce employment taxes for small businesses
The Employment Allowance is a tax benefit that allows eligible companies to reduce their National Insurance Contributions (NICs) each year. Last month we increased employment benefits from £ 4,000 to £ 5,000.
This is a new tax cut of up to £ 1,000 for almost half a million SMEs (30% of all businesses). This includes about 50,000 businesses that will be completely exempt from NIC payments and fees for health and social services.
2) Help grow
Help grow: Digital is a UK government scheme that aims to help you choose, buy and adopt digital technologies to help you grow your business.
Relevant businesses can get a 50% discount on the purchase of new software worth up to £ 5,000 per SME, as well as free unbiased tips and advice on which digital technologies are best suited to improve the efficiency of your business.
Our development assistance: The management scheme gives small businesses access to world-class business expertise in everything from leadership and financial management to marketing and digital adoption, and is 90% funded by government.
3) Lightweight business rates
From April this year, small businesses in retail, hospitality and leisure can benefit 50% discount on their business bills. This is the biggest one-year decline in business rates in 30 years.
From April 2022 will not be business betting thanks to a number of green technologies including solar panels and batteries, while suitable heating networks will also get 100% relief. Together, this will save businesses around £ 200 million over the next five years.
4) Super-deduction and annual investment benefit
To stimulate business investment, super-deduction, the largest two-year corporate tax cut in modern British history, allows companies to cut their tax bills by 25 pensions for every £ 1 they invest in any qualifying machinery and equipment. This may include the purchase of computers, most commercial vehicles and office furniture.
In addition, we have extended the time limit of £ 1 million for Annual Investment Allowance by the end of March 2023.
5) Fuel duty
We have reduced duties on gasoline and diesel fuel by 5 retirees per liter for 12 months – from March 23, 2022.
This is the largest reduction in monetary terms that has ever been applied to all fuel duty rates simultaneously. This reduction, as well as the freezing of fuel duties in 2022-23, represents a saving of £ 5 billion.
About Google Digital Garage
Google Digital Garage is one of Google’s flagship investment programs in the UK, providing free digital skills training to individuals and businesses online and in person. Since its launch in 2015, Google has trained 800,000 people in more than 500 villages, towns and cities across the UK. Google will advertise details of each of the 30+ skills training events in 2022 locally, as well as share details on how local people and businesses can sign up.
The Google Digital Garage Digital Skills Program will visit more than 30 cities this year to conduct free personal digital skills training to help businesses grow in the new hybrid world, including Ashford, Boston and Skegnes, Leeds, Lincolnshire, Maidstone, Salisbury and Perth. Watford.