Business secretary Sajid Javid to unveil new measures for small businesses
£10bn cuts to red tape and a Small Business Conciliation Service to be announced in government's new enterprise bill today
The government’s new enterprise bill will cut red tape for small businesses by at least £10bn over the next five years, will go further to back business and will create jobs as part of its long term economic plan, Sajid Javid will announce today is his first speech as business secretary in Bristol.
The bill will aim to make Britain the best place in Europe to start and grow a business, helping to create two million jobs over the next 5 years.
Another announcement will be the creation of a Small Business Conciliation Service to help settle disputes between small and large businesses, with a focus on late payment practices. It’s estimated that small businesses are owed more than £32bn in late payments, though many are unsure of their rights and reluctant to begin the hassle of a legal challenge.
The bill is also expected to support businesses through the extension and simplification of Primary Authority; allowing businesses to find advice on regulation from a single local council. This advice must be respected by other councils, which reduces the time and cost of companies obeying conflicting rules.
Javid will comment today: “Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them. As Business Secretary I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs.
“As part of our long-term economic plan, we will sweep away burdensome red tape, get heavy-handed regulators off firms’ backs and create a Small Business Conciliation Service to help resolve disputes.”
New minister for small business, Anna Soubry, has said: “This will be a no nonsense bill to back small businesses and help create jobs, giving financial security and economic peace of mind to hardworking people across the country.”
You can find out more about Sajid Javid and his plans for UK enterprise here.