Monday, November 14, 2011

News: Government announces new measures to boost British business


A series of new measures to help Britain's small and medium sized enterprises (SMEs) grow and create jobs, export to new markets, secure finance and cut red tape has been launched by the Prime Minister.

RBS, NatWest and HSBC have agreed to facilitate the distribution of the £95m of the government's Regional Growth Fund to support SMEs considering investing in new capital assets. It is expected to create at least 4,000 jobs and unlock around £500 million of new investment.

To cut red tape, "one-click registration" will go live in April so that businesses can get online, register their business at Companies House, sign up for PAYE registration, Corporation Tax and Self Assessment all in one place. The ability to register for VAT will be added shortly after.

For exporters, new support involves national challenges and workshops, sector knowledge from business intermediaries and professional export advice, hosted by Yell to allow UK firms to swap information and experiences directly.

Prime Minister David Cameron said: "British SMEs are already doing incredible things, but we urgently need more of them to follow that boldness. We need this to be a country where more people think "I can start my own business and I can sell to the world.

"Our determination is to come through these difficult times stronger, to trade our way to growth and jobs. We need to show real optimism about the future, and we need to show real aggression about pursuing Britain's interests in the world. The markets are there to be tapped; the deals are there to be done, the opportunities are there to be capitalised on. Now together we must seize them."

The national Business Link online service has also been relaunched. My New Business offers comprehensive information and guidance to those looking to start a business, including personalised checklists, video tutorials and step by step guides.

The Growth and Improvement Service offers access to informative videos, case studies, events and business support finders, for those who wish to develop their business.

Business Minister Mark Prisk said: "The Business Link services unveiled today will give businesses new, easy to use, and tailored online services.

"This represents the most effective and efficient way to provide the information and advice businesspeople tell us they need and will help businesses grow.

"Interactive tools and services provide real benefits and support to start-ups and SMEs and I am looking forward to seeing these new services put to good use."

Business Link website
BIS website


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