DEPARTMENT FOR
BUSINESS, ENTERPRISE AND REGULATORY REFORM News Release (2008/053)
issued by The Government News Network on 12 March 2008
The Government
today publishes Enterprise: Unlocking the UK's Talent, a new
10 year strategy to make the UK the most enterprising economy in
the world - and the best place to start and grow a business.
It is designed to unlock the nation's entrepreneurial
talents; boost enterprise skills and knowledge; help new and
existing business get funding to start up and grow; and ease the
burden of regulation - particularly on small firms which feel its
impacts most.
Specific proposals include:
* Consulting on the introduction
of a new system of regulatory budgets for Government departments
that would set out the cost of new regulation that could be
introduced within a given period. This would be a world first
* Exempting or simplifying enforcement of new regulation for
small firms where possible
* An independent review, led by Sarah Anderson, to recommend ways
of giving small businesses greater certainty on how to comply with
legislation, initially focussing on employment law
* Extending
lending and funding schemes including allocating a 20 per cent
increase to the Small Firms Loan Guarantee Scheme, extending
eligibility to growing businesses more than five years old,
committing £12.5m to co-invest in a £25m capital fund investing in
women led businesses and £30m support for mezzanine finance
provision through Enterprise Capital Funds to fill the market gap
* An additional £30 million to extend enterprise education to
primary schools and further education colleges
* A National Enterprise Academy, in partnership with entrepreneur
Peter Jones, offering skills training and qualifications to 16 to
19 year olds.
* Funding for the National Council for Graduate Entrepreneurship
to establish a national network of university enterprise clusters
* Tailored support for young entrepreneurs, the over 50s and women
* A set of detailed measures promoting business to business
mentoring, work placements, skills training, improved careers
advice on self-employment and access to business support and to
finance for growth.
There will be independent review of the barriers to SMEs winning
a greater proportion of Government contracts, to be led by Anne
Glover of Amadeus. This will include studying the practicality of
a 30 per cent target for Government procurement from SMEs.
In addition, to reduce delays for travellers at Heathrow, new
targets are being introduced to reduce queuing at security along
with incentives to invest in improved facilities for passengers,
greater use of automated biometric technology and, together with
airlines, development of a fast track route through immigration.
The new policy priorities are the result of six months of
extensive consultation with more than 600 businesses and business
leaders, meetings with representative bodies and of economic
analysis of what drives enterprise and growth.
Prime Minister Gordon Brown said: "The UK is well placed to
meet the challenges of globalisation but our ability to succeed in
the new world will be defined first and foremost by our
adaptability. Our success as a trading nation - whether in
products, services or knowledge - has and will always result from
a spirit of openness, enterprise and innovation. We must unlock
this talent."
Business and Enterprise Secretary John Hutton said: "We want
more new and growing businesses in the UK and more companies and
people acting on their enterprising ideas. The UK's long term
prosperity lies in unlocking the talent of enterprise for people
from all sections of society and in our small businesses, helping
them to grow."
Today's announcement builds on the Government's
successes of the past decade, which have focused strongly on
enterprise as one of the key drivers of productivity. The UK now
has a record four and a half million businesses; higher business
survival rates; and an internationally recognised environment for enterprise.
Published jointly by HM Treasury and the Department for Business,
Enterprise and Regulatory Reform, it details five areas where
Government will focus its efforts. These are:
* Culture - developing an enterprise culture where everyone with
entrepreneurial talent is inspired and not afraid to take up the
challenge of turning ideas into wealth
* Knowledge and Skills - ensuring that people and businesses have
the tools to support the growth of their businesses
* Access to Finance - ensuring start ups and growing businesses
can get the finance they need
* Business Innovation - reinforcing innovation's role at the
root of all entrepreneurial activity
* Regulatory Framework - recognising that unnecessary or complex
regulation can stifle enterprise and have a disproportionate
impact on small firms.
Enterprise: Unlocking the UK's Talent, is the first complete
new strategy from the Department for Business, Enterprise and
Regulatory Reform since its creation last year to bring fresh
impetus to the Government's support for business growth and
rising productivity.
Notes to editors:
1. Regulatory Guidance Review
Every year almost half of all
businesses seek external advice about how to follow regulations,
spending at least £1.4 billion. The Government is today
commissioning an independent review led by Sarah Anderson into how
it can implement policies to give small businesses greater
certainty around guidance - including looking at the legal status
of guidance, legal disclaimers, and other options. Actions
delivering even a 5% reduction of the lowest estimate of the size
of the market for business advice on regulation would mean a
reduction in business spending by more than £72 million.
Sarah Anderson CBE ran her own company for 19 years - Mayday
Group - a four branch specialist employment business and agency
providing catering staff. Other business interests include being
joint founder and director of Simple Solutions Ltd. She is also a
non-executive director of Jobcentre Plus, the UK's largest
government agency and a council member of ACAS. In October 2005,
she was appointed director of London Samaritans and has been a
member of the Employment Tribunal Steering Board since April 2006.
In her past she has provided 'angel' finance and worked
as a small business counsellor in London.
2. SMEs and Public Sector Contracts
The Government has set up
an advisory committee, chaired by Anne Glover (Chief Executive of
Amadeus Capital Partners Limited), to provide advice on necessary
Government action to reduce the barriers to SMEs competing for
public sector contracts, within the scope of EU law and the policy
objective of value for money and advise on the practicality of
setting a goal for SMEs to win 30 per cent of all public sector
business within the next five years.
Anne Glover is a co-founder and Chief Executive of Amadeus
Capital Partners and previously worked for Apax Partners as a
member of the investment team and subsequently as a business angel
investing in UK-based information technology start-ups. Having
studies metallurgy and materials science at Cambridge she sits on
the boards of medical technology companies Optos and Glysure Ltd.
She is a former chairman of the British Private Equity &
Venture Capital Association's venture platform and a member
of the Government's Technology Strategy Board.
3. Enterprise: Unlocking the UK's Talent, published jointly
by HM Treasury and the Department for Business, Enterprise and
Regulatory reform, is available from: http://www.berr.gov.uk/enterprisestrategy
4. The Department for Business Enterprise and Regulatory Reform
helps UK business succeed in an increasingly competitive world.
It promotes business growth and a strong enterprise economy, leads
the better regulation agenda and champions free and fair markets.
It is the shareholder in a number of Government-owned assets and
it works to secure, clean and competitively priced energy supplies.
Department for Business, Enterprise & Regulatory
Reform
7th Floor, 1 Victoria Street, London SW1H 0ET
Public enquiries +44 (0)20 7215 5000
Textphone +44 (0)20 7215
6740 (for those with hearing impairment)
http://www.berr.gov.uk