A new plan to help London's small businesses grow

If you're an entrepreneur or small business owner in the capital, shape your next move with the Small Business Plan, which offers clearer and better access to funding, training and mentoring to help you grow and thrive.

London offers plenty of opportunities for entrepreneurs, but the size of the city and the speed in which it operates can make it harder to navigate the support on offer.

The Small Business Plan, though not limited to London, is designed to make that support clearer and more consistent, helping business owners focus less on searching for answers and more on running their companies.

For many, that also means bringing a sense of calm and balance to the process, reducing the overwhelm that can come with trying to grow in such a fast-paced environment.

What is the Small Business Plan?

From family-run shops to new tech ventures, London has a variety of small businesses that play a central role in the capital's economy and culture.

The Small Business Plan is designed to help them grow with less friction and more confidence, supported by a network of public bodies and local partners working together.

It's a UK-wide initiative led by the government and gives small companies the support they need to succeed. It sets out a clear commitment to back entrepreneurs and strengthen local economies by improving access to finance, training and advice.

Who can benefit?

Walk through any part of London and you'll find businesses of every shape and size. Some are just taking their first steps, others are long-standing fixtures adapting to new demands.

The Small Business Plan was created to reach across that spectrum and offer help that feels relevant no matter the size of your business and its ambitions.

It also makes space for founders who have too often been shut out. Access to networks and finance hasn't always been fair, and the Small Business Plan acknowledges this by opening doors for groups that have found support harder to secure.

The aim is to make London's business community stronger by guaranteeing more people can take part in it.

What's on offer?

The Small Business Plan brings in specific support that companies can act on.

Finance

Finance is a major part of the plan. The British Business Bank is expanding its Growth Guarantee Scheme, and there's £340 million earmarked for regional equity investment.

The Start Up Loans programme is also growing, with tens of thousands of new loans available, each paired with mentoring to support early-stage founders.

The plan also tackles issues that add unnecessary pressure for owners. Late payments are being addressed with tighter rules and stronger enforcement, and a target has been set to cut regulatory administrative costs by a quarter.

Business rates are under review for high-street sectors such as retail, hospitality and leisure, which could make a real difference in London's neighbourhoods.

Going digital

The government is funding new digital adoption pilots to help small companies bring in technology more effectively, alongside leadership and management training to build skills for growth.

A Business Growth Service is being established as a central hub so business owners can find advice and programmes without having to search across multiple departments.

For those with bigger ambitions, there's also backing to grow through procurement and trade. Reforms are being introduced to make government contracts more accessible to small suppliers, while UK Export Finance is being extended so that more companies can reach overseas markets.

How to get started

By design, the Small Business Plan is straightforward. It's not a programme so much as it's a framework that brings different schemes together in one place.

You don't need to tackle everything at once and can instead focus on the areas that matter most to your business right now.

1. Start by visiting the official Small Business Plan summary, which brings together all the schemes in one place.

2. Look through the options and decide which support is most beneficial to you, whether that's finance, training or access to local mentors.

3. Complete the application or sign-up process for the strand you've chosen. Each programme has clear entry points to guide you through.

Once you've taken the first step, you can return to the plan whenever your needs change. It's designed to be flexible and give business owners the chance to build support and grow their company in a way that fits around the realities of running a business.

Why it matters

London's economy runs on the determination of people willing to take risks and build something of their own. These businesses often start small, sometimes with just one person and an idea.

But together they shape the character of neighbourhoods and keep the economy circulating. Despite their importance, support hasn't always been easy to find or simple to use.

The Small Business Plan looks to change that by reducing complexity and opening clearer routes into help.

For entrepreneurs and owners across the city, that means less time chasing answers and more time focusing on the work that matters.

Grow London Local: Support for London's small businesses

No matter where you're based in London, you'll find relevant support and guidance on business planning, sales and marketing and much more, as well as opportunities to connect with like-minded business owners. Visit Grow London Local now