Dains welcomes the news that the government is giving consideration to the provision of financial support to the hundreds of thousands of directors of limited companies, who are effectively self-employed but are not eligible for the government’s existing grants. This group have been labelled the ‘excluded’ by many in the press to date.
In the East and West Midlands there are 836,000 small businesses, many of whom fall into the so called ‘excluded’ bracket.
Reports suggest that the government is reviewing one of the proposed support schemes put forward by leading business organisations. The UK200Group, a group of leading chartered accountancy and law firms, of which Dains is a member, has produced a paper, which details recommendations on several financial problems affecting SMEs.
One of the key things that we are encouraging the government to do is to is to look at an overall individual’s income – or lack of it – and not just the historic profitability of their business in determining eligibility and the provision of financial support packages.
Steve Rogers, a Partner from Dains comments:
“We welcome the news that the government is listening to us and other recognised bodies that work closely with small businesses and looking at how they can introduce financial support for those currently excluded. Clearly any additional support is welcome, but it is imperative that the government adopt an approach that is both fair and practical and seeks to ‘level the playing field’ for all small business owners.
The self-employed and small businesses make up the vast majority of all employment in the UK, and we are keen to help the government to tackle the logistical obstacles that prevent them from supporting everyone equally. A copy of the paper can be downloaded from the UK200 website.