Published: 15th Jan 2020

The government’s approach to supporting SMEs is often fragmented and lacks co-ordination, according to the National Audit Office (NAO). The NAO has published two reports today (January 15). The first, Business support schemes, looks at the management of the support government, particularly the Department for Business, Energy and Industrial Strategy (BEIS), provides to businesses. The second, British Business Bank, examines the impact of the British Business Bank on small-medium enterprises’ (SMEs) access to finance and its preparedness to respond to future challenges. The British Business Bank was set up by BEIS to help make access to finance more coherent and the report found that it has had some success in this area. However, while it has an objective to act as a centre of expertise for providing advice and support to public bodies, it is not ‘the default’ operator of government interventions. The report on the Bank says BEIS and the Treasury … (To read the full article, subscribe below)