A new report has highlighted the unique struggles faced by rural SMEs that will continue to stunt their growth if not addressed by policymakers.
The Growth Belt: Supporting Rural Small Businesses report, compiled by the Federation of Small Businesses (FSB), looks at the way rural firms are struggling with mounting energy costs, poor transport links and unreliable broadband.
The FSB believes that these businesses will continue to be at risk unless the government steps in to make serious changes.
FSB National Chair Martin McTague, said, “Our research highlights how rural small firms are the bread and butter of their communities, full of diversity and ambition. They provide local employment opportunities, drive innovation, and generate economic growth
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Email Jaime“But after decades of promises from the Government, inadequate transport and poor digital connectivity are still putting these rural firms at a disadvantage. This hinders their potential to contribute even more to a sustainable and thriving economy. The VAT threshold is a barrier to growth for many, and charge anxiety and the need to use off-grid fuels means that the transition to net zero needs attention.
“Our report offers concrete, feasible solutions to narrow the productivity gap and unlock these rural small firms’ full potential – not just for now, but for generations to come. The Government has the power to create a more sustainable and resilient economy that benefits everyone, no matter how small or how large their rural community is.”
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