Small businesses are often hailed ‘the lifeblood of the UK economy' and against a backdrop of increasing public sector redundancies and record youth unemployment, it is the private sector that is being relied upon to drive economic recovery.
With 95 per cent of private sector businesses employing less than 20 people, it is time to consider how the smallest firms can be encouraged to take on staff in an uncertain economic climate and how budding entrepreneurs can be supported in setting up their own businesses.
The FSB and the All Party Parliamentary Small Business Group have launched an inquiry into entrepreneurship to consider the role of entrepreneurs in driving economic growth.
This comes on the back of new figures which show that:
- 27 per cent of small businesses found it difficult to find suitably skilled staff.
- Another 47 per cent said they find regulation requirements onerous
- A third (34%) had difficulty securing finance at start-up.
Read the Entrepreneurship Inquiry and press release and view the results.