The Prime Minister revealed on Thursday his plan to support small businesses with securing payments on time from larger firms. The Plan for Change will include £4bn more funding for business support and will also grant new powers to the Small Business Commissioner, allowing them to fine larger firms who refuse to make payments owed on time.
The Plan for Change was first revealed on Thursday 31st July 2025, during a visit to Swindon, where Prime Minister, Keir Starmer, and Business and Trade Secretary, Jonathan Reynolds, discussed the plan. The Prime Minister said:
“From builders and electricians to freelance designers and manufacturers, too many hardworking people are being forced to spend precious hours chasing payments instead of doing what they do best – growing their businesses.
“It’s unfair, it’s exhausting, and it’s holding Britain back. So, our message is clear: it’s time to pay up.”
“Through our small business plan, we’re not only tackling the scourge of late payments once and for all, but we’re giving small business owners the backing and stability they need for their business to thrive, driving growth across the country through our Plan for Change.”
What’s the £4bn for?
The Small Business Commissioner powers will obviously be welcomed by small business owners who are frustrated by larger firms refusing to pay what is owed at a time they agreed to. But business owners will also want to know about what the £4bn announced is for, too.
The following breakdown has been provided:
- £1bn will go towards 69,000 start-up loans
- £3bn will go to the British Business Bank for the scheme ENABLE (designed for small business loans)
What does the Power for Change mean for your business?
The Power for Change will be welcomed by small business owners who are all too often overlooked by larger firms refusing to stick to the payment plan agreed to.
Additional funding for small business loans and start-ups will also be welcomed by those looking to expand their business or open a new one.
The full effects of the Power for Change remain to be seen when it comes into full force. But if you want to stay up to date with the latest news, why not sign up to our newsletter created for SME business owners.
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