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One Year, Two Hundred Promises, And A Report Card The Government Wrote Itself

ended 21. July 2026

A year ago the Government published its Small Business Plan with close to 200 promises for the country's 5.7 million small firms. This month it handed itself the one-year report card, and the grade it wrote at the top is 98%. Put the two documents next to each other, though, and the picture is a lot more mixed than the headline suggests.

There are real wins. The Small Business Commissioner clawed back £1.5m in unpaid invoices, more than the previous four years put together. Lending capacity is up, and company insolvencies finally fell 16% between the first and second quarters of 2026. But a report card is only as honest as what it chooses to leave off, and several eye-catching pledges from last summer have simply slipped off the page between one document and the next, from a £320 billion growth promise to a target for hundreds of banking hubs. Meanwhile the thing squeezing small firms hardest, the Government's own National Insurance rise, gets barely a mention beyond a line insisting it is "not at the expense of the smallest firms". More small businesses now expect to shrink this year than grow.

You mark it, then:

  • 98% on track. Do you believe the number, or does it feel like a school marking its own exam?
  • One year in, has this plan made an actual difference to your business, or has it been white noise while your costs went up anyway?
  • If a government makes 200 promises and quietly drops the awkward ones, is that just how politics works, or is it something voters should punish?

Sources:

Small Business Plan and One Year On update, GOV.UK: https://www.gov.uk/government/publications/backing-your-business-our-plan-for-small-and-medium-sized-businesses

Company insolvency statistics, GOV.UK: https://www.gov.uk/government/statistics/company-insolvencies-may-2026/commentary-company-insolvency-statistics-may-2026

FSB cost warning via People Management: https://www.peoplemanagement.co.uk/article/1949065/increased-labour-costs-pushing-small-businesses-brink-fsb-warns

5 responses from the Newspage community

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Kate Underwood
Founder & Chief People Strategist at Kate Underwood HR and Training
98% 'in train'? I run a business. If I told a client 98% of their HR was 'in train', they'd ask when the train leaves. 'In train' isn't 'done'. It's a press release in a hi-vis jacket. Show me what's finished and what it changed for a real firm. Until then, they're marking their own homework and handing themselves a gold star. Judge a plan on what a business can actually bank, not on what's 'in train'.
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Graham Nicoll
Financial Planner, Chartered FCSI at NCL Wealth Partners
A 98% score sounds impressive, but it's difficult to judge success when the Government is marking its own homework. For most business owners, the real measure is whether they're more profitable, hiring and investing with confidence. Below are some client scenarios.

For a Midlands manufacturer employing 10 people, higher employer National Insurance and wage costs are immediate pressures. In many cases, that means delaying investment in machinery, apprenticeships or recruitment because those costs can't simply be passed on to customers.

For a fast-growth tech business in Birmingham, every software engineer or sales hire is now more expensive, making it harder to scale. Improved access to finance and progress on late payments are welcome, but businesses also need certainty and a tax system that encourages growth. The real test isn't how many promises were delivered, but whether SMEs feel more confident about their future. Right now, many still don't.
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Nouran Moustafa
Practice Principal & IFA at Roxton Wealth
A government marking its own exam will always find a way to get 98%. “In train” is not the same as delivered; it can mean anything from legislation passed to a meeting booked. Recovering £1.5m in unpaid invoices and expanding access to finance are genuine wins, but the real economic test is whether small firms are hiring, investing and feeling more confident. Too many are doing the opposite while payroll taxes and other costs rise. Quietly dropping the awkward promises makes the headline look better, but it does not make businesses stronger. Judge the plan by shop floors, payrolls and bank accounts—not by how many boxes Whitehall says it has opened. On that basis, 98% looks less like a report card and more like political marketing.
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Paul Denley
CEO at Oakham Wealth Management
A 98% score sounds impressive, but when the Government is both sitting the exam and marking the paper, some scepticism is justified. There has been genuine progress, particularly on late payments and access to finance, but businesses judge policy by what happens to their costs and confidence, not how many commitments are technically “on track”. The rise in employer National Insurance has increased the cost of employing people at precisely the time the Government says it wants small firms to invest and grow. If major promises have quietly disappeared from the scorecard, that matters too. Ultimately, the real report card is whether more small businesses are growing, hiring and investing. On that measure, 98% feels rather generous.
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Editor
Harvey Dhillon
Founder & CEO at Zmartly
A school that marks its own exam rarely fails itself, so treat the 98 per cent with care and look at what actually moved.

Some of it is real. Company insolvencies fell from 9,998 in the first quarter of 2026 to 8,390 in the second, a drop of about 16 per cent on the Insolvency Service's figures, the first proper easing in a while. And the Small Business Commissioner recovered £1.5 million in unpaid invoices.

But the thing crushing small firms barely gets a line: late payment. The Federation of Small Businesses reckons it closes around 50,000 small businesses a year. A plan that celebrates itself while that number stands has not finished the job.

So owners, do not wait for the report card. Chase your invoices the boring way: clear terms, a reminder the day a bill falls due, and interest charged when it runs late. You are allowed to.

98 per cent on track is a grade. Getting paid on time is the result that counts.