The not so Small Business Strategy

The government’s forthcoming Small Business Strategy is currently flying just under the news radar. It was announced in the Autumn Budget 2024, but the actual publication date is still unknown.  

Most entrepreneurs will recognise that feeling. With a to-do list as long as your arm, it’s easy to put off the more involved tasks – even when they’re the ones that might really move the needle.  

A call for evidence from the Business and Trade Select Committee last month hinted that publication in July may no longer be realistic, although oral evidence is already underway.  

Business rates, soaring energy costs, employment expenses and the struggle to find staff with both strong tech abilities and people skills remain major worries. The outlook for our high streets and local communities is closely tied to the fate of small businesses and the policies that support them. These are significant issues.  

Yet this is the first government-led Small Business Strategy in over a decade, and it offers a genuine chance to create meaningful change. It’s a critical moment.  

But success will depend on delivery models that reflect the reality of how small businesses work. These delivery models must be inclusive, easy to access and relevant.  

Now, with the UK economy contracting, manufacturing declining, retail under pressure and few indicators pointing upwards, we really do need a proper growth plan for small businesses – and fast.  

Enterprise Nation adviser and qualified mentor Chris Dunn agrees. He’s calling for a joined-up approach across departments to benefit all small businesses, not just those chasing rapid growth. It’s a view that’s often voiced and for good reason.   

“With technology advancing so quickly and local economies facing different pressures, we need a strategy that includes everyone and looks ahead. That means strong local skills programmes and mentoring that gives people and businesses the tools to keep pace with rapid change,” Chris told me.  

Asked how, as a mentor, he could help the government shape the strategy, he suggested:  

• Building local support networks that combine hands-on training with coaching and mentoring

• Introducing digital adoption schemes suitable for businesses of all types

• Aligning government departments to simplify and improve access to business support

• Prioritising sustainable approaches and locally focused economic growth

Chris made the point that while past efforts have concentrated on around 30,000 growth businesses, far more firms deserve meaningful support.  

“We’ve got to pay attention to those smaller companies that are just as crucial to the health of our local and national economies,” he said.

“This strategy should do more than update old systems – it should breathe new life into communities through bold, well-rounded support.”  

This call for a wider and more joined-up approach is a timely reminder of how vital small businesses are in helping the economy recover and communities thrive.  

As the government revisits its plans and reviews today’s responses, has it got the insight it needs – and what part can we play? 

Relevant resources

• Ideas shared by Enterprise Nation members for the government's new small business strategy

• Adviser Paul Grant on funding, focus and the future for UK small businesses

• Six straightforward things small businesses want to see in the government’s Small Business Strategy