The UK Jewellery, Silverware and Allied Crafts (UKJSAC) Roundtable Group has welcomed the Government’s Backing Your Business plan, recognising the steps it proposes to improve the landscape for small and medium-sized enterprises (SMEs).
As an industry overwhelmingly comprised of microbusinesses and family-run firms, UKJSAC is encouraged by the Government’s commitment to revitalising high streets, expanding access to finance, simplifying tax and regulatory systems, and boosting skills and leadership development – all of which reflect key recommendations outlined in the industry group’s submission to the Small Business Inquiry earlier this year.
In particular, the Government’s plans to reform licensing for high street businesses, introduce permanent business rate reductions for retail, hospitality and leisure properties, expand the British Business Bank’s Growth Guarantee Scheme, and invest £1.2bn annually in skills development align closely with UKJSAC’s call for policies that create a fairer, more supportive environment for creative and craft-led businesses. The plan has also introduced a ‘Safer Streets’ initiative, which will deploy an additional 13,000 police officers to enhance community policing efforts, targeting shoplifting, and fostering safer business environments. Additionally, the aim is to reduce regulatory administrative costs for businesses by 25%, allowing business leaders to concentrate on running their operations successfully.
However, UKJSAC stresses that there remain critical areas where further action is needed, as well as where the support can be extended. These include restoring tax-free shopping for international visitors, improving parking and accessibility to support high street footfall, succession planning support for family-run enterprises, and greater recognition of the sector’s contribution to the UK economy in policymaking through revised SIC and SOC codes.
Ben Massey, Chief Executive of the National Association of Jewellers and Secretariat for UKJSAC, said, “The Backing Your Business plan demonstrates welcome recognition of the vital role small and microbusinesses play in the UK economy, and we look forward to engaging and supporting its roll out. While there are clear alignments between the proposed reforms and the recommendations we submitted, we see further opportunities to strengthen support for UK high streets, especially with tax and regulatory burdens and strategic initiatives such as the return of tax-free shopping.
“This is the fourth submission UKJSAC has delivered in the past 12 months, following our engagement on the Industrial Strategy, State of Play through DCMS, the House of Lords Education Committee inquiry, and now the Government’s Small Business Strategy. We remain committed to ensuring the voices of our industry and the wider creative craft sector are heard at the highest levels and across departments.”
As the Government moves forward with its Plan for Change, UKJSAC calls for continued collaboration with the creative and craft-led industries to ensure the unique challenges and opportunities within these sectors are fully addressed.
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