The Adam Smith Institute has published Unburdening Enterprise, a report calling for a package of bold measures to unleash the potential of small and medium business to create jobs and growth:
• Abolish employers’ NIC first for small and micro businesses then for medium-sized businesses.• Reverse the 5.6% hike in business rates for all SMEs.• Remove excessive regulatory standards and administrational burdens that increase costs for businesses and make it difficult to employ more workers.• Exempt SMEs from new UK regulation, and impose a moratorium on future EU regulation.• Reduce the number of employment tribunals by making it easier to fire employees who commit misconduct.• Create incentives for zero-hour, temporary and fixed term contracts, and introduce self-employment to reduce hiring costs for SMEs• Act as an enforcer of contracts – public sector agencies should pay their invoices more promptly.• Encourage the creation of a private secondary bond market in order to ease the availability of funding to the SMEs.
It's worth reading Vuk Vukovic's report for an explanation of the how the measures will help small business deliver the growth, jobs and prosperity our lacklustre economy desperately needs. But the underlying message is simple: the more the Government does to remove the risks and costs it imposes on small and medium business when they hire staff and expand their operations, the more new jobs and prosperity they will create.
The Adam Smith Institute has published Unburdening Enterprise, a report calling for a package of bold measures to unleash the potential of small and medium business to create jobs and growth:• Abolish employers’ NIC first for small and micro businesses then for medium-sized businesses.• Reverse the 5.6% hike in business rates for all SMEs.• Remove excessive regulatory standards and administrational burdens that increase costs for businesses and make it difficult to employ more workers.• Exempt SMEs from new UK regulation, and impose a moratorium on future EU regulation.• Reduce the number of employment tribunals by making it easier to fire employees who commit misconduct.• Create incentives for zero-hour, temporary and fixed term contracts, and introduce self-employment to reduce hiring costs for SMEs• Act as an enforcer of contracts – public sector agencies should pay their invoices more promptly.• Encourage the creation of a private secondary bond market in order to ease the availability of funding to the SMEs.
It's worth reading Vuk Vukovic's report for an explanation of the how the measures will help small business deliver the growth, jobs and prosperity our lacklustre economy desperately needs. But the underlying message is simple: the more the Government does to remove the risks and costs it imposes on small and medium business when they hire staff and expand their operations, the more new jobs and prosperity they will create.