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Click to enlarge photo - Government to up small business support

Government to up small business support

Business insurance and other financial issues will be among the topics covered in a new move by the government to demonstrate its support for small firms.

The Financial Times reports that the Business Council for Britain is to receive feedback from UK entrepreneurs on the issues affecting their organisations.

In the past, the prime minister has been criticised for under-representing smaller businesses on the council, which was established last year.

As well as business insurance, regulation and finance, the day-to-day trials of managing a small business will be discussed by entrepreneurs selected by the council.

Its chairman, Mervyn Davies, claimed that the "spirit of entrepreneurialism" has increased in recent times, thanks in part to television series such as Dragons Den and The Apprentice.

He went on to acknowledge the administrative burden faced by business owners, as well as the need for reform.

"We have absolutely got to reduce the regulation and the red tape for small business - that's a very pressing challenge.

"And we've got to help small businesses grow internationally without building their cost base," he remarked.

Jon Card from Growing Business magazine recently pointed out that many enterprises view insurance as "a necessary evil or dead money", with many small firms mistakenly "scrimping on the costs" and ending up with inadequate cover.

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Posted on 04/03/2008

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