Labour plan for small businesses will pull up the shutters for Britain’s entrepreneurs

Labour plan for small businesses will pull up the shutters for Britain’s entrepreneurs

A Labour government would pull up the shutters for small businesses after 14 years of decline under the Conservatives.

Our plan for small business is fully-funded and fully-costed, and includes plans to introduce new legislation and regulatory reforms designed to significantly benefit small businesses.

Labour’s plan has the backing of business leaders including Dragon’s Den investors Deborah Meaden and Theo Paphitis as well as small business owners up and down the country.

Labour’s plan for small business

  • Guarantee small businesses access to banking services on their high street, including safely depositing cash, by changing regulations to accelerate the rollout of banking hubs.
  • ⁠Replace the business rates system, with a new system that will level the playing field between the high street and online giants.
  • ⁠Revitalise Britain’s high streets by tackling anti-social behaviour through the introduction of new town centre police patrols
  • Make the UK the best place to start-up and scale-up by unlocking the supply of finance for businesses looking to grow.
  • Stamp out late payment of invoices to small businesses, requiring large businesses to better report on their payment practices to expose late payers.
  • Open up competition to public contracts, giving small businesses the fairer chance they deserve.
  • Boost small business exports by publishing a trade strategy and delivering clear advice to get new businesses exporting
  • Give a new direction for skills and addressing skills shortages by creating Skills England and working with local industry to ensure local people have the skills they want including new Technical Excellence Colleges.
  • Make Britain a Clean Energy Superpower and cutting energy bills for small business and creating thousands of opportunities from tradespeople.

The Labour Party knows the value of small businesses; they are not just the lifeblood of our communities but essential to our economic success. 

That is why last year, we launched The Beating Heart of Our Economy, an ambitious plan to support small businesses.