WILL the Government budget for helping small and medium businesses? High-growth firms, those with 10 or more employees and average 20 per cent plus growth a year over three years, do better in a recession than other firms.
Around six per cent of businesses are considered high-growth and they generate around half of all new jobs created in the business workplace. And yet they find it harder to access funding!
So the Government have been urged to focus on removing obstacles to allow businesses to borrow much-needed cash to fund cash flow.
Simplification of tendering for contracts is one area where this week’s budget could help. Watch this space.