FSB News Release
PR/2011/56

Business Secretary must support the UK's Real-Life Entrepreneurs™

The Business Secretary, Vince Cable MP must promote a stable environment for the UK's Real-Life Entrepreneurs to thrive, the Federation of Small Businesses (FSB) will tell the Liberal Democrat Conference in Birmingham, this week.

As recent economic data shows a weakening of the economy – with sluggish growth and unemployment once again breaking through the 2.5 million barrier – the FSB will launch its ‘Real-Life Entrepreneurs™' campaign to encourage the Government to act on its rhetoric and bring in policies that will deliver tangible results on growth.

The campaign highlights how it is the everyday men and women that have taken a risk and started their own business that will be responsible for creating much needed growth and employment opportunities to get the economy back on track, but that they face many obstacles when trying to do so.

The FSB believes there are six practical steps the Government can take to make a difference, including:

• Increasing the routes to finance by ensuring that the recommendations set out by the Independent Commission on Banking are implemented by 2015 so small businesses can benefit from increased competition on the high street as well as being able to move banks more easily
• Improving cash-flow. FSB research has shown that more than 70 per cent of businesses have experienced late payment. The Government must make sure that all public sector agencies and its contractors pay on time
• Adopting a new approach to regulation. With a third of FSB members citing regulation as their single biggest obstacle to growth, the Government must do more to reduce the burden at local, national and EU levels
• Reducing and simplifying business taxes to help more people become entrepreneurs
• Incentivising job creation. Many businesses worry about the cost and responsibility of taking on their first member of staff and so the FSB is urging the Government to reduce this cost by extending the National Insurance Contributions holiday to all businesses with fewer than four employees across the whole of the UK
• Opening up export markets. A quarter of FSB members currently export and they would like to do more but are put off by red tape and regulation, so the FSB is calling for a single European contract law to ensure that more small businesses can access the export market

To ensure that the prospect of entrepreneurship is open to as many people as possible the FSB has partnered with six organisations to put specific recommendations in place that would help different sections of society to take the leap and start their own business.

John Walker, National Chairman, Federation of Small Businesses, said:

"The economy has stalled and as the impact of the public sector cuts continue to bite, the Government needs the UK's small businesses – those Real-Life Entrepreneurs™ that have taken a risk to set up in business – to pick up the slack. But, for this to happen we need to see a strong plan for growth put in place.

"While the culture of celebrity entrepreneurs will have spurred people into starting a business, more needs to be done to make doing so more accessible to more people. We are calling on the Business Secretary to listen to the Real-Life Entrepreneurs that have told us their problems and to make changes that address their needs. Not only will this help them to grow their businesses, but it will also help other people realise that they can go it alone and become one of these important Real-Life Entrepreneurs™."

ENDS


Notes to Editors

1. The FSB is the UK's leading business organisation with more than 200,000 members. It exists to protect and promote the interests of the self-employed, and all those who run their own business. More information is available at HYPERLINK "http://www.fsb.org.uk" www.fsb.org.uk
2. The FSB fringe event ‘The Future for Britain's Real-Life Entrepreneurs™' with Lorely Burt MP and the Chartered Institute for Personnel and Development will be held at 1pm on Tuesday 20 September at the ICC Meeting Room 1
3. The FSB will be at stand R12 at the Birmingham ICC from Saturday 17 September to Wednesday 21 September 2011.
4. To find out more about the Real-Life Entrepreneurship™ campaign visit www.fsb.org.uk when it is launched on Saturday 17 September, or contact Sara Lee for an embargoed copy of the manifesto
5. The FSB has partnered with Young Enterprise, everywoman, Heropreneurs, New Deal of the Mind, PRIME and Leonard Cheshire Disability to consider the more specific needs of specific sections of society.

Contacts

Andrew Cave, Chief Spokesperson: 07917 628991
Sara Lee: 020 7592 8113/ 07595 067068 sara.lee@fsb.org.uk

For regional FSB contacts please go to www.fsb.org.uk/regions