A three-year moratorium on new business regulation is great news, as is an increase of 15% in the availability of credit to small businesses.
Small businesses have suffered immensely over the last few years and extra breathing space is just what they need.
However, while this is a positive step, I would have liked to see this extended to enterprises with 50 or even 250 employees. It is important not to forget that medium-sized enterprises are a massive source of growth too.
The 21 enterprise zones to be set up are equally a healthy proposal. Fingers crossed we can create another success story like Canary Wharf, which was transformed from a virtual wasteland to a financial powerhouse.
The £200m set aside for developing regional railways is key to the success of these zones. This is a doubly good move as it will allow aid to be given to regions previously reliant on strong public sector involvement and investment.
The government can’t stimulate growth as such, but they can relieve the burdens on those who can and do stimulate growth
Healthy reading
All of these measures, combined with 40,000 funded apprenticeships and 100,000 places in new work experience schemes makes for very healthy reading.
We provide top level candidates for the most dynamic and fastest growing companies in the UK and have seen that a healthy amount of job opportunities combined with skilled candidates is a recipe for success.
The reduction in corporation tax is equally a good thing, though it is slightly disappointing it is less than the expected 2%. Profit is obviously key to business success, and anything that can boost it is welcome indeed.
Encouraging entrepreneurship is vitally important, so the measures regarding the Enterprise Investment Scheme are great. We are finding 25 aspiring entrepreneurs for the New Entrepreneurs Foundation, which gives young people the opportunity to learn from some of our most successful business people, including Brent Hoberman and Luke Johnson.
For these young people to know they are backed by the government will help give them the confidence to to start their own successful enterprises.
The government can’t stimulate growth as such, but they can relieve the burdens on those who can and do stimulate growth. Yesterday we saw a series of very sound decisions from the Chancellor, but this is only one positive step in the right direction in difficult circumstances.
