Business growth: Policy, practice or just wishful thinking?

We all know the official line that given the financial crisis, public cuts are a necessary evil. And that whilst this will result in public sector job losses the ‘private sector’ will create the jobs to replace these. However, there are growing concerns about achieving this.

In terms of creating new jobs, when we say the ‘private sector’ we mean small to medium-sized enterprises (SMEs). So, what is the government going to do to support growing businesses?

The BIS ‘Bigger, better business’ proposal to help small firms start, grow and prosper was published last week suggesting eight points (Download a PDF of the report).

  1. Online help – tailored to each business
  2. Telephone contact centre – to support one service
  3. Helping start ups – the new Enterprise Allowance Scheme
  4. Business mentors – practical advise from experienced business people
  5. Business coaching fro growth
  6. Manufacturing advisory service
  7. Tailored help – women, BAME and service personnel
  8. Other Government funded help – revised ‘Solutions for Business’ for strategic advice, reaching international markets and supporting innovation

But will this be enough to support the creation of 100,000s of new jobs?

STOP PRESS

11/01/11 There are some early signs of US small businesses creating jobs

Prof Nigel Lockett FRSA

Professor of Enterprise
President of the Institute for Small Business and Entrepreneurship
www.leeds.ac.uk/lec

www.nigellockett.com