Business department reveals £1.4bn support scheme

Date: 31st March 2009

The department for business has unveiled a scheme which could add up to £1.4 billion a year in value for small firms.

The Solutions for Business initiative will see all previous 3,000 support services rolled up under the Business Link banner.

According to the government, this will make the process of seeking advice much simpler - something which has become of particular prevalence since the onset of recession.

For detailed information on how the changes will take affect, small businesses should consider speaking to their local accountant.

Ian Pearson, minister for business, commented: "To succeed in a competitive global environment UK businesses need ongoing access to help and support.

"The Solutions for Business portfolio makes it simpler for businesses to access the support they need."

Mr Pearson added that it was an "important tool" for aiding firms through recession, while also providing "long-term, sustainable" support.

Meanwhile, HM Revenue and Customs has announced that from tomorrow (April 1st) the department will have a new set of all-encompassing powers over VAT, corporation tax, income taxation and PAYE.