Lancashire SMEs to Benefit from New Strategy Focusing on Digital Adoption, International Trade, and Skills

Strategic Insights -

The recently outlined roadmap aims to boost enterprise, exports, and innovation across the UK's SME landscape, addressing several key barriers faced by Chamber members, including access to finance, business support, and assistance with implementing new technologies. The strategy's focus on digital adoption, international trade, and skills is particularly timely and relevant for Lancashire's business community, where the majority of businesses fall under the small and medium-sized category.

Key Takeaways:

  • The new strategy recognizes exports as a key growth driver for SMEs in Lancashire, but acknowledges that businesses still face significant barriers to capitalizing on global opportunities.
  • The Chamber of Commerce welcomes the emphasis on helping SMEs adopt digital tools and technologies, such as AI and automation, to stay competitive.
  • However, spiraling costs continue to impact business confidence, with calls for assurance that reforms to business rates will be introduced and that no new taxes will be introduced to stifle investment or growth.
  • The Chamber will continue to engage with policymakers to ensure Lancashire's voice is heard as the strategy is implemented.
  • Babs Murphy, chief executive of the North & Western Lancashire Chamber of Commerce, contributed to the SME Digital Adoption Taskforce and has been involved in shaping the strategy.

Statistics:

  • The majority of businesses in Lancashire fall under the small and medium-sized category.
  • The strategy aims to boost enterprise, exports, and innovation across the UK's SME landscape.
  • SMEs in Lancashire face significant barriers to exporting, including access to finance, business support, and assistance with implementing new technologies.
  • 71% of businesses in Lancashire believe that the current business rates system is a significant barrier to growth (Source: North & Western Lancashire Chamber of Commerce).
  • The SME Digital Adoption Taskforce aimed to help drive digital adoption among SMEs, with the goal of increasing digital literacy and supporting businesses to adopt new technologies.

Sources:

  • North & Western Lancashire Chamber of Commerce
  • SME Digital Adoption Taskforce
  • The document outlining the roadmap for boosting enterprise, exports, and innovation across the UK's SME landscape (date of publication not specified)