The government should announce a separate body with a seat in the cabinet to represent the interests of small companies in today’s Budget, the Federation of Small Businesses (FSB) argues.
The mooted Small Business Administration, which should be modelled on its counterpart in the US, would facilitate small business finance, improve public sector procurement opportunities and offer services such as disaster assistance, the group explains.
In the US, a similar organisation has been supporting small companies since 1953 and is represented in the country’s cabinet. (article continues below)
John Walker, national chairman of the FSB, says: “It would allow the government to quickly implement policies aimed at helping small businesses – such as credit easing – which firms have been waiting for since the autumn statement.
“It would give the government a channel through which it can advertise procurement opportunities, give expert help and advice on exporting as well improve communications with small firms. All of this would in turn help to achieve growth.”