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FMB welcomes support for SMEs

The Government’s announcement of support for Small and Medium-sized Enterprises is an important stepping stone to helping create a new business environment for small companies, says the Federation of Master Builders.
The new government proposals include: Simpler registration for new businesses, a new Enterprise Allowance scheme, the removal of barriers preventing social tenants from starting up their business at home and the promotion of business start-ups by JobCentre Plus.

The package of support for small businesses also includes measures to improve access to finance, and to make it easier to do business with the public sector.

Richard Diment, director general of the FMB said: “For too long SMEs have been overlooked by government despite the fact that they provide 60 percent of jobs in the UK and half the country’s GDP. This announcement is a positive step forward and the proposed joined-up approach should help provide SMEs with better support from across government departments.”

Diment continued: “Since the recession began many small building contractors have had difficulty accessing finance, despite the fact that many of these companies have a proven track record running successful companies. The FMB has been asking government to act on this issue for a long time.

“Equally as important is access to public sector work because for too long public sector procurement has made it almost impossible for SMEs to compete to win work. Smaller, local companies are often best placed to do the work as they are often more cost effective because of fewer overheads.

“The announcement that Lord Young has agreed to take on the role of Enterprise Adviser to the Prime Minister is also very encouraging. Lord Young now needs to ensure that he really gets to know the business conditions that SMEs work in so that he can suggest workable solutions to create a better business environment for SMEs.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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