Monday marked the beginning of this year’s Small Business Advice Week that was officially started with the Federation of Small Businesses (FSB)supporting the week.
Now entering its 10th year, Small Business Advice Week will be reaching out to companies across the UK to share best practice, tips and key business information to help create jobs and growth for the year ahead.
The week’s aim is to help firms access finance, save money and get the best out of technology.
An estimated 4.8 million businesses are in operation across the UK, employing nearly 24 million people delivering a combined turnover of £3.1 trillion; small and medium size businesses (SMEs) account for 99.9 per cent of all private sector businesses and have a workforce of 14 million.
Phil Browne, an organiser of Small Business Advice Week 2013 says: “We’ve had five years of economic hardship, but some financial experts are telling us how they’re starting to see tentative signs of recovery. Our aim is to provide as much information as possible.”
The FSB have released the findings of their Procurement 2013 report, revealing the power of small businesses in the local economy. It shows more money spent with a small firm ends up re-spent in the local area.
To be precise, 63p in each £1 compared to 40p in each £1 spent with a larger business goes back into the local area.
Small firms are a vital part of local economies, creating jobs and supporting growth.
This week is all about raising awareness for businesses seeking support and advice. That will be on going throughout the year.