The Labour party now has an opportunity to drive economic growth through the small and medium-sized business community by addressing key concerns, particularly in the area of access to finance.
There is a need for increased competition in the commercial lending sector to enable SMEs to access a wider range of options and for the British Business Bank's Bank Referral Scheme to be strengthened to support SMEs effectively.
It is crucial for the government to develop a new scheme involving a broader range of SME funders and finance brokers to give small businesses more choice in financing themselves for growth and success.
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