National Enterprise Network, representing the Enterprise Agencies up and down the country and the tens of thousands of businesses they support, has voiced disappointment that the Chancellor has missed the opportunity to encourage more small business start ups in his Spring Statement.
Chair of NEN, Alex Till, said: “Especially at this time of Brexit uncertainty, we need policies to help provide advice and funding for early stage businesses. We have seen no real mention of that, with the emphasis from the Chancellor predominantly simply looking to make predictions for the post Brexit environment.
“We are pleased to see that he has listened to our lobbying for continued funding to the British Business Bank, but it is not clear whether this will be positioned purely at fast growth businesses, as opposed to extending the availability of the Start Up Loan Company based funding.
Many Enterprise Agencies are struggling to plan for their future in the absence of clarity on Brexit and a reassurance of continued funding from the government whatever the Brexit outcome. Without this, the vital ongoing support for ordinary small businesses, especially in the more economically deprived areas of the country will be lost.”