17
June
2021
|
11:31
Europe/Amsterdam

City of London Corporation calls on SMEs to shape new strategy to support Square Mile businesses

The City of London Corporation is urging Square Mile SMEs to get involved in discussions about how to support the recovery from the COVID-19 pandemic and enable growth into the future.

The SME Strategy Focus Groups will be used to help inform the City Corporation’s very first strategy aimed at small to medium sized businesses.

The new strategy is being developed to identify the most crucial challenges the small and medium-sized enterprise (SME) community is facing and to provide the support needed for business recovery and beyond.

The City Corporation is calling for Square Mile SME owners to come forward with their views on the existing support measures and any other views on assistance that could be offered.

Policy Chair at the City of London Corporation, Catherine McGuinness, said:

“The City may be most famously known for its very large financial firms, but it is the Square Mile’s lively mix of business - including the vast array of small and medium sized hospitality, retail and culture venues - which make it a thriving ecosystem.

“More than 98% of businesses in the Square Mile are SMEs, and the City’s recovery relies on their prosperity, so we want to hear how we can further support these businesses now and in the future.

We urge anyone who owns a small to medium sized business based in the Square Mile to come forward and contribute their experiences.

“SMEs will play a vital role in supporting the City’s economic recovery and will help us to build back better. Our new SME Strategy will set the blueprint for this success.”

The newly rebranded Small Business Research and Enterprise Centre (formerly the City Business Library) is open to start-ups and SMEs. It supports the creation and growth of sustainable businesses in the City, London and the UK by providing access to essential data and advice.

More information on the SME Strategy Focus Groups, and to apply to be involved, visit cityoflondon.gov.uk/supportingsmes.

The City of London Corporation recently announced it is extending the deadline for submissions to its Covid Business Recovery Fund to 30 June 2021 and expanding eligibility. The fund offers up to £50 million of support for SME businesses which contribute to the Square Mile’s vibrancy at street level and which directly provide services to returning City workers, visitors and residents.

ENDS

Notes to Editors:

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk