Smaller firms 'need to be helped'
A research organisation has urged the Chancellor to help smaller companies and entrepreneurs.
George Osborne ought to use this week's Budget to push through the proposed "removal of barriers" already issued by the Tory-Lib Dem coalition, according to the Work Foundation.
The organisation insists small and medium-sized companies are likely to be the main driver of growth during any sustained economic recovery in the UK. It wants more resources given to a smaller number of firms, rather than "tokenistic" policies for a large number of firms.
The Work Foundation's Charles Levy said: "While there has been much talk about the importance of high-growth firms, not enough has been said about how best to support them. Although the coalition has introduced new initiatives and set removal of barriers as a key part of its growth strategy, this process must be accelerated and deepened. It is especially important to target the marginal firms which, with Government help, could become high-growth firms in the future."
Neil Lee, also with the foundation, said: "The Government needs to move from tokenistic support for a large number of firms and focus on the small minority that will actually create the jobs we need to tackle unemployment. The Budget is an opportunity to rationalise the current mess of business support schemes."
In David Cameron's Spring conference speech, he stressed the importance of doing everything possible to make it easier for business to grow, invest for the future and to create jobs. In short, he wants to back small businesses and boost enterprise. Government are therefore saying the right things about supporting small businesses and the upcoming Budget will be a good opportunity to see if their actions match the words.