Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what recent assessment he has made of the long-term resilience of small businesses in (a) England and (b) Essex.

Business cash levels have been resilient and have strengthened since the pre-pandemic and pre-referendum periods. According to figures published by BVA BDRC, in Q1 2025, 29% of SMEs were holding over £10,000 in credit balances compared to 23% in 2018 and 2019. SMEs have also increased their levels of cash relative to their turnover, with credit balances amounting to 28% of turnover in Q1 2025 compared to 24% in 2018 and 2019.¹

The Southeast Growth Hub is where small and medium sized businesses across Essex can benefit from specialist advice on how to scale up, access new markets and receive financial support through the British Business Bank.

¹ SME Finance Monitor – March 2025