BUSINESS MATTERS by Stephen Metcalfe MP

iKBBI PATRON AND MEMBER OF PARLIAMENT STEPHEN METCALFE DISCUSSES HOW THE NEW GOVERNMENT ENTERPRISE BILL CAN HELP INSTALLERS

I hope that installers are aware that this government is committed to ensuring that the UK truly becomes one of the best places in the world to do business, and the new Government Enterprise Bill is key to this, because it is drafted in recognition of the importance of keeping small businesses at the heart of our economic plan.

The Federation of Small Businesses reported that at the beginning of 2014, small firms accounted for a huge 99.3 per cent of overall private sector business in the UK. Small businesses alone (those with fewer than 50 employees) account for 48 per cent of private sector employment and 33 per cent of private sector turnover. It really is difficult to exaggerate the importance of small businesses to the overall economic wellbeing of the UK.

Having worked in my own family business, I understand that one of the biggest barriers to progress in business is needless red tape. That is why I am so pleased that at the centre of the new Enterprise Bill, is the slashing of burdensome red tape that gets in the way of so many businessmen and women up and down the country. The Business Secretary Sajid Javid, has promised cuts in regulation worth £10 billion in total. In addition, small businesses will benefit from the extension of a Primary Authority regime; meaning that businesses will be permitted to operate under one rule set according to their local authority – making it much easier for businesses to grow and expand into different parts of the country.

Equally important to small businesses, and I imagine of particular concern to the readers of ‘The Installer,’ is the issue of late payments. Late payments are set to cost British business more than £40bn this year. As Sajid Javid

Stephen Metcalfe, MP & iKBBI Patron

recently pointed out, the average amount owed to a small business is more than £30,000. To tackle this problem, the government has proposed the setting up of a Small Business Conciliation Service, which will make it easier for small businesses to settle their payment disputes with customers. This should also help to encourage a more business friendly payment culture throughout the British economy.

These are just a few of the many measures being taken in this ‘no nonsense’ bill. It has long been the intention of the Conservatives to make Britain one of the best places in the world to do business. In making this a reality, it is important to recognise the huge role that small businesses play in the overall economic picture. The new Government’s Enterprise Bill is a hugely important step on this journey.

Stephen Metcalfe

Member of Parliament for South Basildon & East Thurrock