Get ready for “the most dynamic and entrepreneurial decade in our history”
Yesterday, David Cameron made a speech in Manchester, as part of his regional tour to promote jobs and growth, stating that the government is working to make the next decade “the most dynamic and entrepreneurial decade in our history”.
This drive for Britain to become a more entrepreneurial nation in the forthcoming years is all part of the Government’s plan to pick up public sector slack through growth in the private sector - with SMEs and start-ups playing a huge part.
However, with money tight, loans hard to secure and a VAT increase to boot, the thought of expanding or starting a business for many individuals may seem impossible. So what is the Government going to do to support this entrepreneurial initiative?
Apparently the Government will be “laying out the red carpet” for smaller companies through the creation of an “entrepreneur visa”, support of innovative companies and web start-ups, an increase in the new enterprise allowance and by cutting bureaucracy.
This all sounds like good news, however, much support will be located away from London and the South in order to make sure that growth is more balanced across the whole of the UK which will be disappointing news for those based in southern regions.
On a more positive note for small businesses in the South, Peter Ibbetson, small business chairman at NatWest and Royal Bank of Scotland has some reassuring words with regards to access to small business loans,
“Many SMEs have been in survival mode, and will have exhausted all credit lines, so there’ll be demand for working capital as they look to restock and re-staff,” he says.
“Whether SMEs are looking to regroup or invest, we have the funds available to meet demand.”
