The new-look Conservative Government, which was assembled in the aftermath of the EU referendum when Prime Minister David Cameron and Chancellor George Osborne were replaced by Theresa May and Philip Hammond respectively, has made strong public statements regarding the importance of SMEs to the UK economy. For example, following her appointment as Britain’s new PM, May said: “From dynamic start-ups to established family firms, our small and medium sized businesses are the backbone of our country.”
With SMEs accounting for 99.9% of the nation’s private sector businesses, and boasting a combined annual turnover of £1.8 trillion, it was reassuring to see the new Cabinet publically reaffirm the Government’s commitment to British businesses. Over two months into her role as Prime Minister, however, Theresa May has yet to make any major policy reforms towards British businesses. This is unlikely to occur until Philip Hammond delivers the highly anticipated Autumn Statement on 23 November.
On Tuesday, a delegation led by the Federation of Small Businesses (FSB) was hosted at Downing Street to discuss some of the leading issues facing British SMEs in the wake of Brexit. Among the topics on the table were policies surrounding business infrastructure, regional investment and tax, with a particular focus on facilitating private investment into SMEs.
Private investment has proven vital in supporting Britain’s bustling community of SMEs – in 2015, alternative finance accounted for 12% of business lending. To ensure the alternative finance can continue to support British businesses, investors must be made aware of avenues available for SME investment. That is why IW Capital has launched Access 42 – an exclusive investor network for people seeking to learn more about SME investment. Members of Access 42 enjoy unlimited access to our industry-leading research on the latest trends defining the alternative finance industry, as well as the chance to engage with our SME investment opportunities as soon as they become available.