BT has announced a support plan for small companies based in the Humber and Yorkshire region to help them bounce back and grow in the wake of the COVID-19 crisis.

Around 428,000 small firms in these areas are set to benefit from the Small Business Support Scheme set up by BT. The aim of it is to enable these firms to improve connectivity, confidence and cash flow, with research conducted by Small Business Britain having found that these three issues are the primary concerns among the owners of smaller businesses.

The commitments that have been laid out in the action plan devised by BT include a promise that all the small firms that supply it with materials, equipment and services will be paid in full inside 30 days of invoices being sent. Late payments are often cited as a reason why smaller firms struggle to maintain adequate cash flow, so this should be welcomed.

BT is also committing to providing financial support to enable local firms to get equipped with faster broadband connections for business, and to provide mental health, mentoring, marketing and digital skills resources and tools at no cost.

Sarah Walker from BT said that small firms represented over 99% of the corporate sector in the Humber and Yorkshire regions, and were the heart of their high streets and economies.

For that reason, getting financial help and advice from an accountant for small business in South Yorkshire or Humber areas can be beneficial to the local community as a whole.