The Federation of Small Business (FSB) is calling on the Chancellor to focus on enterprise and maintain small business growth in anticipation of this year’s Budget.
Urging for the creation of a ‘right environment’ for small business growth through market reforms such as energy and financial services, the FSB says that the Government need to support small businesses through better focused schemes.
John Allan, National Chairman of the FSB said: “With the economic recovery underway it is important that businesses begin to feel the measures already announced are having a positive effect on their business. This is why the Chancellor should look at ‘focus and delivery’ for initiatives already announced to create long-term growth.”
“The FSB has welcomed the Government’s recent moves to support employment, notably the Employment Allowance and a pledge to cut red tape. The focus now needs to be on addressing fundamental structural issues.”
He continued: “Getting more competition and transparency in key sectors such as energy and financial services will greatly help small firms.”
The FSB also said that it welcomed the Employment Allowance and Government pledges to cut red tape, however it said pro-enterprise policies need to be maintained to encourage job creation and sustained investment, as well as an increased transparency in the key markets of banking and energy.
EFG - Skipton Business Finance's Government-Backed Scheme
If your business requires a government-backed Enterprise Finance Guarantee (EFG) loan, and at the same time wants to take advantage of having a more flexible business finance facility than what your bank can offer you such as invoice factoring or invoice discounting, then look no further than Skipton Business Finance.
The Enterprise Finance Guarantee is a scheme for small businesses intended primarily to improve the availability of working capital through term loans and the consolidation of overdrafts. It also supports lending for business growth and development in cases where a sound proposition may otherwise be declined due to a lack of security.
For more information, please visit our EFG page.