In a bid to give the UK economy a much-needed boost, small businesses are set to benefit from new Government measures which amount to a growth package. A raft of new incentives and assistance includes alternative financing options and “one-click” registration at Companies House, reports company secretarial services firm London Registrars (http://www.london-registrars.co.uk/).
The SME growth package was announced by the Government in November of 2011 and will come into effect later this year. The aim of these new measures is to facilitate growth in small and medium sized businesses in the UK, and as such SMEs will stand to receive a financial boost in the coming years. This assistance will manifest itself in a number of ways, the first being access to alternative finance methods, a move which is seen as key given the troubled banking sector. The Government has pledged £95 million of funding from the Regional Growth Fund (which is expected to ‘unlock’ another £500 million of investment). There are also a number of different initiatives planned nationwide including Web Fuelled Business workshops which will help small companies harness the commercial power of the internet.
Another important component of the growth package is the “one click” registration which will allow SMEs to quickly and easily register their business at Companies House and sign up for PAYE registration, Corporation Tax and Self Assessment online in a few clicks of a mouse. “One click” registration will come into effect as of April 1, and the ability to register online for VAT will be added soon after. London Registrars will be offering ongoing management of this new way to register at Companies House as part of its company secretarial services when it is launched.