There has been a lot of recent press coverage of SMEs ("SME" stands for small and medium-sized enterprises) not getting the TLC that they need and deserve.
This is despite the fact that the Government has identified the SME sector as crucial to the revitalising of the UK economy. SMEs are also said to be responsible for driving innovation and competition in many economic sectors.
SMEs or small and medium-sized businesses as they are sometimes referred to (SMBs) are companies whose criteria falls below certain limits. There is no single definition of a small firm, mainly because of the wide diversity of businesses.
HMRC adopt the definition of a SME for capital allowance purposes based on the Companies Act 2006, whilst the definition of SME for other purposes such as research and development tax credits is different because it is based on different EC legislation.
SMEs need every measure of support and encouragement available to them, and whilst publicity and marketing are especially important for early-stage SMEs, exporting and looking to expand into new markets is also a key consideration for businesses.
The success of small and medium-sized companies often depends on being able to access expert advice and support. We have assisted a number of SMEs to help them realise their growth ambitions.
Our banking and corporate team can play a pivotal role with our necessary experience, resources and contacts of taking into account each company’s individual circumstances and assisting with the type of finance that they require, from “High Street” to secondary lenders, and advising on the finance terms and documentation, with the added support of being a full service firm to help SMEs with other aspects of their business.
If you would like to discuss this blog and any assistance we may be able to offer you, please contact us on 0113 336 3387 and speak to Jonathan Simms or Russell Stevens.
Disclaimer: Anything posted on this blog is for general information only and is not intended to provide legal advice on any general or specific matter. Please refer to our terms and conditions for further information. Please contact the author of the blog if you would like to discuss the issues raised.