Partner Article

Forum of Private Business looks ahead to 2012

Challenges and opportunities will both characterise the year ahead for small businesses, says the Forum of Private Business.

Chief Executive, Phil Orford, has said entrepreneurs will continue to show courage and creativity in the face of adversity, but will need enterprise policies that encourage growth and job creation.

He stated: “The continuing scarcity of affordable credit, rising late payments, mounting business costs and turmoil in the eurozone, in addition to the perennial problems of tax and red tape, are sapping both cash flow and confidence.”

The Forum’s ‘Get Britain Trading’ campaign was launched a year ago to raise awareness of the key economic role played by small businesses.

Work placements were organised for politicians to spend time at local firms to foster a better understanding of business owners and their concerns.

Mr Orford continued: “Our work has already produced some important policy developments.

“After many years of campaigning by the Forum the Government has finally scrapped the Channel Islands Low Value Consignment Relief (LVCR) tax loophole, which allows large companies to move offshore in order to sell many goods online VAT-free, undercutting small mainland shops and internet traders.

“The beleaguered high street has at last been given a fighting chance, and a welcome Christmas present.

“The Forum is also leading a late payment initiative involving most of the UK’s major industry organisations, with some strong and innovative proposals designed to address a growing problem that is a major drain on resources.”

Heading into 2012, the Forum has said it will continue to lobby on tax and regulation policies, as well as pushing hard for development on employment, skills, growth opportunities and the provision of targeted business support.

“Clearly 2012 will again be challenging. If a ‘double dip’ recession is to be avoided we must create the conditions necessary to fuel small business growth,” added Mr Orford.

“Confidence is low but, despite the difficulties they face, there is some optimism among small business owners.

“More than a quarter of our members surveyed recently plan to grow in the next six months. Some are even reporting stronger orders and turnover compared to this time last year.

“The Forum is re-energising Get Britain Trading for 2012 and we are again asking our members to tell us their fears, hopes and expectations for the year ahead.”

The results are expected to be published early in the coming weeks, and there are hopes that events such as the Queen’s Diamond Jubilee, Euro 2012 and the London Olympics and Paralympics will provide a few “bounces” needed.

This was posted in Bdaily's Members' News section by Tom Keighley .