Small businesses hail £350 training pot

Date: 22nd October 2008

Business leaders have hailed the recent announcement of a £350 million skills boost for small firms, the Northern Echo has reported.

Secretary of state for business Peter Mandelson unveiled the fund - which is an attempt to kick-start the economy - earlier this week.

A regional development agency has now welcomed the money, which will be used to train staff in business techniques, along with management and leadership skills.

Ian Williams, One North-East's director of business and industry, told the Northern Echo: "This additional package will help firms take some really practical steps to protect themselves."

He added that the fund would help business start-ups to identify future issues as early as possible, as well as make sure that their staff have all the skills needed to make a company succeed.

Small business start-ups have until October 31st to file a self-assessment tax return, or alternatively, can submit an online tax return before January 31st next year.