Prime Minister hosts festive street market to showcase British Businesses.
- Downing Street transformed into a festive street market to showcase the best of British businesses from across the UK
- Prime Minister joined by the Chancellor to show their support for small businesses
- Comes ahead of the 10th anniversary of Small Business Saturday
Downing Street was transformed into a festive street market to showcase businesses from all four corners of the UK.
The Prime Minister was joined by the Chancellor and business and industry leaders and trade envoys to show their support for up-and-coming British businesses.
Twelve companies from the UK held stalls to promote their products and demonstrate how they benefited from our independent trade policy by putting their products on the global market. For example, one of the stallholders – Wensleydale creamery, based in the Prime Minister’s constituency in Yorkshire – has grown to employ over 200 people and exports their cheese to 16 countries, including the US and Australia.
Another stallholder, SamosaCo, which is based in Cardiff, sells across the UK and exports to markets in the Netherlands, Spain and Singapore. Birchall Tea, which also showcased their products today, are one of the largest exporters of East African tea in the world, buying and shipping millions of kilos of black tea every year.
It comes as the Small Business Saturday campaign marks its 10th anniversary. Small Business Saturday is an annual grassroots campaign which encourages people to support small businesses in their communities.
In the last decade, the Government has given free, impartial support via Growth Hubs to over 287,000 businesses, provided £12.2 billion worth of finance to high-potential small companies to stay ahead in the market, and provided almost 99,000 Start Up Loans via the British Business Bank to new entrepreneurs. Thousands of UK businesses have also signed up for the Export Academy and acquired knowledge of selling their products internationally.
Prime Minister Rishi Sunak said:
I’m delighted to welcome these fantastic businesses to Downing Street, many of whom have inspiring and remarkable stories about how they grew their businesses in the UK.
Businesses across the UK can be reassured that this government will always support them, especially during these challenging economic times. We are backing businesses with £13.6bn worth of support over the next 5 years, with further support for businesses with their energy bills through the Energy Bill Relief scheme.
Growing up in a family business, I know the transformative impact a small business can have on the local economy and community. So this Saturday, I encourage everyone to get behind their local businesses and invest in Britain.
A record 5.5 million small businesses registered in the UK at the start of 2022, providing jobs for 16.4 million people in the UK. But the government recognises that companies are facing significant pressures.
We provide additional support for small businesses through the Supporting Small Business Scheme. 99% of UK businesses can also use the Annual Investment Allowance to write off the full cost of any qualifying plant, machinery or equipment they purchase up to a new permanent level of £1 million.
Later this week, the Business Secretary will set out more details on how we’re protecting small businesses from late payments from larger clients, which can damage their cash flow and expansion prospects.
Chancellor of the Exchequer Jeremy Hunt said:
Heading to the Christmas markets is one of the highlights of the year for many families. As well as a festive treat, this event celebrates the millions of small businesses that are the backbone of our communities.
Whether you’re a butcher, café owner or hairdresser, this government has set aside significant support on business rates and energy bills to help local firms through today’s challenges and onwards to growth.
Since leaving the EU, we now sell our beef, lamb and poultry in Japan and the Philippines, beef and lamb in the USA, and pork in Mexico, Chile and Taiwan. This provides new opportunities for UK producers and businesses to expand globally.
We have trade and investment teams in Scotland, Wales, Northern Ireland and the North East, with dedicated teams to ensure every business in the UK gets our full support. Exports will support highly paid jobs, and by sending our products abroad, we will secure growth and employment at home across the UK.
Last year we published our Export Strategy, which will help businesses across the UK double exports and sell their world-class products around the globe. The 12-point strategy gives companies the tools they need to become a nation of exporters and reap the benefits of our free trade deals.
Unlocking the UK’s exporting potential will help level up the country and boost the UK’s economy, with estimates that UK exports are bringing in £748 billion to our economy in the twelve months to September 2022.
