Small manufacturers “listened to” in Queen’s Speech
Measures announced in today’s Queen’s Speech that will help SMEs to more easily access government support have been welcomed by the Institution of Engineering and Technology (IET).
The Small Business, Enterprise and Employment Bill aims to help make the UK the most attractive place to start, finance and grow a business.
Sahar Danesh, Principal Policy Advisor for Manufacturing at the IET said: “Manufacturers, while upbeat about their sector, have told us consistently that Government support is skewed towards the larger companies with complicated application processes that they simply don’t have the time or resource to navigate.
“Smaller manufacturers want less red tape and simple, straight forward and easier access to Government support to ensure they can continue to grow and help build a successful economy.
“The manufacturing industry is proud of its growth and development and we need to make sure that we can make more people aware of how much value investing in this industry can bring to the UK economy.”
Main elements of the Bill include making it easier for small businesses to access finance; improving payment practices; providing small firms with fair access to the £230 billion spent each year in the form of public procurement contracts; and increasing the availability and sources of finance for businesses that want to invest.
