MONEY

SMEs in Dalston face struggle to survive

17 Mar , 2016  

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Small and medium-sized enterprises (SMEs) in Dalston may not survive if the government does not increase spending, the financial director of Hackney Co-Operative Developments has said.

Anthonia Onigbode, the financial director of Hackney Co-Operative Developments, said: “The government are not interested in helping SMEs.

“They keep advertising that they’re [supporting] small businesses, but in reality, most aren’t getting anything [from them].”

Government spending on SMEs

According to the Crown Commercial Service (CCS), the government increased their spending on small and medium-sized enterprises by 27 per cent over the last financial year, exceeding its 25 per cent target.

However, the National Audit Office released a report stating their claim could not be verified because the reported annual increases in spending occurred in parallel with changes to CCS recording methodology.

Featured Image Credit: Tarquin Binary via Wikimedia Commons

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