Government review of small business support welcomed

Dains has welcomed news that the government is reviewing the provision of financial support to thousands of directors of limited companies, who have previously not been eligible for Covid related grants.

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 a leading business organisation.

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.

The group is encouraging the government to look at an overall individual 's income - or lack of it - and not just the historic profitability of their business in determining eligibility when considering financial support packages

Steve Rogers (pictured), partner from Dains, said: “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."