The UK Business Secretary, Sajid Javid, has announced new measures to support entrepreneurs and job creation with the government’s new Enterprise Bill. Tech entrepreneur and former Dragons’ Den investor Piers Linney has welcomed the move:
“Many of the most innovative developments in the technology space come from smaller enterprises, so the government’s move to focus business de-regulation on the needs of SME’s is particularly encouraging.
“UK entrepreneurs have some of the best ideas in the world but too often they get stuck at the starting line and we lose out to more flexible markets like the US. The more that can be done to support smaller enterprises during those vital early stages as they fight to get off the ground, the better”, Linney adds.
Speaking at the Engine Shed business centre, Javid’s new bill pledges to make Britain the best place in Europe to start and grow a business and it is expected to create two million more jobs over the next five years. The new Bill will look beyond Whitehall and extend to independent regulators for the first time, which will be expected to contribute to saving at least £10 billion for the UK economy through deregulation. A Small Business Conciliation Service will also be created to help settle disputes between small and large businesses, especially over late payment practices.
“Today’s announcement by the Business Secretary, alongside the continued push by the Cabinet Office to open up government contracts to SMEs, all point to some important developments for the tech industry in the UK in the coming years”, Linney concludes.