Latest figures have shown that government spending with small and medium-sized businesses is at its highest rate since records began in 2013 and continues to rise.
Figures for government spending with SMEs are measured both in terms of:
- direct spending – where money goes directly from the government to small businesses.
- indirect spending – which goes through the supply-chains of larger companies.
For 2019/20, the total direct spend was £6.6bn, compared to £6.4bn in 2018/19, and the indirect spend was £9bn, compared to £7.8bn in 2018/19.
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Email JaimeThe government says this boost in spending is due to long-term government commitment as well as greater working within the sector.
Cabinet Office Minister, Lord Agnew, commented, “Small and medium-sized businesses are the backbone of the UK economy, fuelling economic growth and providing employment for almost 17 million people.
“That is why we are determined to make sure the power of government spending supports this vital sector and helps bring forward the delivery of top class public services.”
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