New measure to support small businesses unveiled

2025-03-16 03:10:00

Abstract: UK govt launches SME export support with a new expert committee led by experienced businesspeople. Some, like a local record store owner, prefer tax relief.

A minister in the UK government recently announced a new initiative aimed at supporting small and medium-sized enterprises (SMEs). This initiative is designed to help these businesses expand into overseas markets, thereby promoting overall economic growth.

Business Minister Jonathan Reynolds stated that the government will establish a committee of experts to support businesses in exporting products and developing the economy. During a visit to Shoreham-by-Sea in West Sussex, he told BBC South East that the members of the trade board would not be "dry academics" but individuals with "practical experience and outstanding business backgrounds."

However, James Anderson, the owner of a local record store, said he would prefer to see the government provide financial assistance. He believes the government should focus on business tax relief rather than international sales.

Reynolds stated that the government is "addressing the practical issues that businesses are struggling with."