Partner Article

FSB calls for US style body

The FSB has called for a UK version of the American Small Business Administration, that has represented small business across Government since the 50s.

Acknowledging the developed entrepreneurial economy in the US, the FSB believes such a body could help to secure higher levels of productivity and innovation.

In its Budget submission, the FSB has outlined how a UK version of SBA would provide a single focus for small business issues, encompassing: access to finance, procurement, exporting, regulation and targeting help for less advantaged communities.

It also suggests the body would be able to challenge Government departments, especially with regard to regulation that may adversely impact small business, and become a strong independent advocate for small business needs.

Elsewhere in the submission, the FSB call for intelligent and creative use of the estimated £240bn public sector spending power, to avoid small businesses being excluded from procurement contracts.

The Government’s target of 25% of new business to SMEs, was welcomed, but pointed towards a rethink of the current approach of aggregating contracts, and a policy which requires large contracts to be divided into smaller lots for tender.

Tax simplification was also raised, as the Federation supported the OTS’ call for a cost-benefit analysis of moving to a turnover based tax system for micro-businesses.

They argue a move to turnover tax would help make it easier for small business to comply and start to address issues around compliance.

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