23/03/2011
An industry expert has announced that SME's are the key to the UK's economic recovery.
Speaking at the Federation of Small Businesses annual conference, John Walker said that smaller companies have a pivotal role in driving the UK completely out of the recession.
Walker, who is chairman of the Federation, also stated that the Government are in a great position to lend a helping hand to small businesses ahead of this week's Budget.
Thesalesdirector.com report that he said: "The UK's 4.8 million small businesses are best placed to help the recovery, but they need a helping hand. We need to see the chancellor use the Budget to create a country fit for entrepreneurs, by providing incentives for businesses to take on staff."
Many small businesses are creating additional funds using trusted methods such as invoice factoring in order to free up finance for growth, enabling them to prosper in one of the most promising year's for SMEs.
By hiring factoring companies to collect outstanding debt, companies may be able to create the finances in order to take on new staff and maintain the stability of the UK economy.
Fsb.org.uk confirm that Walker called for additional help from the Government in order to further support the growth of SME's.
He said that small companies could really benefit from a fuel duty stabiliser and being included in the extension to the national insurance contributions holiday.
Joe Elvin