Bigger, Better Business

The Department for Business, Innovation and Skills have released ‘Bigger, Better Business’ a report outlining The Government’s strategy to help small firms start, grow and prosper.

Minister of State for Business and Enterprise, Mark Prisk, describes measures that The Government will be taking over the coming months to support more people to grow their own enterprise whilst also diversifying the demographic of business owners across the country.

 

With the aim of bolstering the number of start up businesses owned by minorities of the sector, including Women, Ex Forces, Black, Asian and other Minority Ethnic Communities. The Coalition has committed to creating a long term environment to support enterprise and business development.

 

So far The Coalition Government has introduced several policies, including that which reduces the rates of corporation tax from April 2011. Plans for the future, such as introducing the aim that 25% of government contracts will be awarded to Small and Medium sized Enterprises (SMEs) are in conjunction with the reform of the Governments provision of information and advice for businesses, ie Business Link.

 

The strategy is the proposed solution to the challenge The Government faces when trying to reduce the cost of business support. In the current climate it is deemed essential to invest to make the services provided by the government as efficient and effective as possible with a specific focus on the business with potential for high growth. Key features of the new system include:

 

• Online business information and tools tailored to each business’ needs

 

This action is a complete overhaul of the current Business Link website and will both update the technology hosting the site as well as its content with the aim of addressing complaints about the old site that suggested it was unclear and difficult to navigate.

 

• A national contact centre to help businesses.

 

This will be put in place to support those who cannot find the information they need on the web or who are not connected to the internet.

 

• Help for start-ups, including the New Enterprise Allowance

 

Funding that will provide long term unemployed with access to a business mentor and a weekly allowance to help with start up costs.

 

• A network of at least 40,000 experienced business mentors offering practical advice

 

Networks of mentors will come from organisations including SFEDI and the Institute of Directors.

 

• Business Coaching for Growth, backing high growth SMEs to enable them to realise their potential.

 

These businesses will benefit from specialised training tailored to their specific needs.

 

• Tailored action to raise low entrepreneurial activity among key parts of our communities, including women, Black, Asian and Minority Ethnic groups and Service leavers

 

The Government is considering the measures that need to be taken to access these groups, they involve working with established organisations such as the Royal British Legion.

 

Business Link, in its current form, will close by November 2011. To access the Bigger Better Business Report follow this link: http://www.bis.gov.uk/assets/biscore/enterprise/docs/b/11-515-bigger-better-business-helping-small-firms.pdf