Lawyer Welcomes Support For SMEs But Calls For More Detail

The Government has announced a raft of proposals for small businesses at today’s state opening of parliament.

Described as measures ‘to reduce regulation on small businesses’, the Enterprise Bill aims to cut red tape and reward entrepreneurship.

Proposals in the Bill include cutting red tape and saving businesses at least £10 billion over this Parliament.

The Queen’s Speech also contained details about a Small Business Conciliation Service to help resolve business-to-business disputes, especially over late payment.

Other proposals included improving the business rates system ahead of the 2017 revaluation, including modernising the appeals system.

Expert Opinion

“It is encouraging to see that the new Government has prioritised small businesses and no doubt many company bosses will support the objective of cutting red tape. It is however the latest in a long line of similar announcements stretching back many years and some SMEs will now want to see real action rather than well-meaning words.

“Creating a Small Business Conciliation Service to help resolve business-to-business disputes will also be supported, especially as it looks to address the issue of late payments. Many smaller businesses have been dealing with the significant increase in court fees since April, so any proposal to address this will be welcomed. As ever we await the detail, however.”
Steven Beahan - Partner