§ Mr. ShersbyTo ask the President of the Board of Trade if he will list those Government measures of particular help for small businesses introduced since May 1992.
§ Mr. Ian TaylorGovernment measures introduced since May 1992 focus on the establishment of a network of Business Links, to bring together in partnership and in one location, all the key local business support providers.
Business Links will provide a range of integrated support services including advice on exports, innovation and technology and design. Sixty-nine Business Links are now open, with around 200 planned by the end of 1995.
Other measures include:
A new consultancy service which will offer both a diagnostic and consultancy service and a consultancy brokerage service for smaller firms.
The small firms training loans scheme, launched in June 1994, will help very small businesses pay for both training consultancy and training related to business objectives. The training initiative for small firms, which will start in April this year will enable businesses to develop, in house, the training skills of key workers.
Budget measures over successive years have encouraged both investment through the enterprise investment scheme and venture capital and trusts, and re-investment, changes to capital gains tax in businesses.
The issue of late payment of debt has been addressed in a variety of ways including the development of proposals for a British standard for prompt payment and further prompt payment requirements on Government Departments and their agencies.
Changes were introduced to the small firms loan guarantee scheme in 1993 to improve access to finance. These included offering established businesses 85 per cent. guarantee on loans up to £250,000 and reducing the premiums paid by borrowers.
Many of the reforms introduced under the deregulation initiative—for example, the small firms litmus test to assess the impact of any legislative proposals on the sector—are of particular benefit to small firms.
A new three-year programme for the small firms merit award for research and technology programme, which provides grants to small firms to help them with the development of new innovative products was announced this month. The related support for products under research programme continues to be available.