Sonia Kumar

As a member of the Business and Trade Committee, I welcome this debate and the opportunity to look at our priorities for the future. Small and medium-sized businesses make up 99.9% of British businesses, employing over 16 million people. As the daughter of a greengrocer, my speech will focus on supporting SMEs to grow our economy. It is crucial that the Government’s plan to deliver long-term growth includes digital inclusion, improving financial literacy, improving access to finance, workforce reskilling, and expanding the export-led growth capabilities of SMEs. Digital exclusion is not just a social problem, but an economic one. The Government’s digital skills plan recognises that businesses and workers must be equipped with digital capabilities to drive growth, yet millions of adults and thousands of businesses lack the digital skills and financial literacy needed to compete in both today’s and tomorrow’s economy. They face barriers to digital adoption, including cost, lack of awareness and difficulty accessing Government support. I have spoken to several businesses in Dudley and I recently held a networking event, and those from small businesses repeatedly said that they do not have the time to learn digital skills, and using social media as part of their marketing strategy was walking into the dark. SMEs also face barriers in accessing finance to scale up and enter new markets abroad. I support the Business and Trade Committee’s priorities, so will the Department agree to spend on expanding financial incentives, as Governments must make grants, R&D tax reliefs and digital adoption funding easier to access, especially for SMEs outside London and the big cities; to focus on financial literacy so businesses can thrive; to streamline public procurement as too many tech SMEs struggle to win public sector contracts due to the overly complex processes; and to have initiatives for businesses to access finance, whether that is seed money or scaling up to export? Lastly, will the Government commit to maximising opportunity in the industrial strategy for all towns like Dudley to ensure that no town is left behind on this journey to economic prosperity?