British Government puts small business at the heart of the economy | WPN World People News

Addressing the 40th annual FSB conference in Manchester, Minister Hancock will set out the steps the government is taking to link small and medium sized businesses with the development of policy.

The measures he will outline complement and support the growing confidence highlighted in the FSB members’ survey this year, which shows that more companies have aspirations to grow and expand than at any time in the past two years.

The Minister will announce:

•The opening of the recruitment process for two new Entrepreneurs in Residence, who will work closely with the Department for Business, Innovation and Skills (BIS)
•Twenty business schools which will become trailblazers in establishing the Small Business Charter
•A £1million education technology design competition for small businesses with innovative ideas who want to see them become a reality.

Skills and Enterprise Minister Matthew Hancock said:

“Small businesses are the lifeblood of our economy and with two-thirds preparing to expand it is our desire to make sure they have everything they need to thrive. Small businesses should influence and inform government on what advice and support works best for them, so I’m pleased to be able to announce further measures that allow them to provide their input.

“In launching our search for two new Entrepreneurs in Residence, we are asking for business people to tell us what more we can do, and I hope the programme proves to be as popular as it was last time.

“It is an essential part of our long term economic plan that businesses are given the right environment to achieve their lofty ambitions.”

John Allan, National Chairman, Federation of Small Businesses said:

“The FSB welcomes this ongoing focus on small businesses at the heart of government, and especially efforts to sharpen up the support offered to them. Maximising the expertise business schools offer can only enhance growth prospects for small firms, and the development of growth hubs should provide a much clearer signposting of the wide range of support there is available.”

The Minister will also use his speech to;

•Welcome the launch of a growth hub in the South East Midlands, which will nurture small business in the region
•Credit the success of the government’s Start Up Loan programme, which has offered 15,000 loans worth more than £80 million to aspiring business people

The Entrepreneurs in Residence will spend a year working closely with BIS helping officials to design and guide policy that will benefit small businesses. This year BIS is searching for an entrepreneur who can help us to help scale-up businesses; and also an entrepreneur who can help the UK develop a new industry from the emerging new science of synthetic biology.

The main aim of the Small Business Charter is making business schools 'anchor institutions' in the local business landscape. The Association of Business Schools is leading the implementation, with a Board chaired by Sir Peter Bonfield that includes business school and small business representatives. The Small Business Charter plans to recognise business schools that support small businesses by allowing them to hold a Charter Award if they meet the robust criteria that show they prioritise the needs of small firms.

The Technology Strategy Board (TSB) competition, which promises the winning company £1 million in funding will also help in giving them access to expertise and equipment that will help them develop their product.

The minister will use his speech to launch further support that will help to provide an environment that engenders growth for small business throughout the country, which was included in Small Business: GREAT Ambition – the government’s commitment to make it easier for small firms to get on.

Source: UK Department for Business, Innovation and Skills