A regional business leader says the budget will help get companies in Lichfield and Burntwood “back on their feet” after the coronavirus crisis.
Chancellor Rishi Sunak unveiled a number of schemes during the announcement yesterday (3rd March).
Extensions to the existing furlough initiative was confirmed along with new measures such as the Help to Grow scheme designed to kickstart business Help to Grow by providing management training and advice on technology systems.
Alun Rogers, chair of the Stoke-on-Trent and Staffordshire Local Enterprise Partnership, said:
“It is clear that this is a budget to get SMEs back on their feet – the Help to Grow programme is particularly welcome.
“In March 2020, the Office for National Statistics’ productivity report analysing productivity following the 2008 financial crisis highlighted businesses that invested in professional management training performed much better than those that didn’t.
“This new support package will enable businesses coming out of this economic turbulence to invest in the training and skills to help them grow over the long-term.”Alun Rogers
Mr Rogers said the scheme would provide another boost alongside existing initiatives in Staffordshire.
“Over the past year, we have been working closely with our Growth Hub to drive digital skills and digital transformation across the region as we know that businesses that adopt these practices are more profitable.
“This additional support will complement our offer locally.
“Overall, in challenging times, this budget puts people and SMEs at the heart of the recovery and we welcome the measures that have been set out to support jobs, growth and economic prosperity.”Alun Rogers