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<p>The Department continuously monitors and works to improve our offer to help businesses
access the finance and support they need.</p><p> </p><p>Government works with the
British Business Bank to help SMEs access finance. The Recovery Loan scheme, renamed
the ‘Growth Guarantee Scheme’, was extended, which offers a 70% government guarantee
on loans to SMEs. The VAT registration threshold was also raised, keeping more SMEs
out of VAT.</p><p> </p><p>Additional support also includes raising the Employment
Allowance to £5,000, and a business rates package to support small businesses, worth
£4.3 billion.</p>
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