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Chamber Welcomes Enterprise Bill

Posted on May 18th, 2015

The Rt Hon Sajid Javid MP
New measures to support entrepreneurs and job creation have been set out by the Rt Hon Sajid Javid MP, in his first speech as Secretary of State for Business.

Mr Javid unveiled the Government’s new Enterprise Bill earlier today, which he said would help make the UK the “best place in Europe to start and grow a business.”

It will help create two million jobs over the next five years, so that more people have the security of a regular paypacket, he said.

The Bill will facilitate plans to cut red tape for small businesses by at least £10bn over the term of the Parliament and, for the first time, target independent regulators to ensure compliance. It will also enable the creation of a new Small Business Conciliation Service to help settle disputes over payment.

George Cowcher, Chief Executive of East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire), said: “Businesses will welcome the renewed focus on slashing unnecessary red tape from Whitehall departments which holds them back from creating jobs and focusing on growth. Firms will now expect to see a similar commitment from Brussels.

“However, reducing regulation is as much about quality as it is about quantity and removing laws from the statute book will have an effect only if companies on the ground feel the burden of needless regulation is lifting.

“Late payment can place a huge strain on a business' cash flow, which is putting viable businesses at risk of closure.

“While Government does have a role to play in helping to alleviate both the cause and effect of late payment, businesses themselves need to take responsibility for their own payment behaviour in order to bring about a change in payment culture. Fairer payment practices would help small businesses grow and create jobs.”