New Business Secretary aims to cut £10bn of SME red tape

The government’s new Business Secretary, Sajid Javid will pledge to cut at least £10bn of red tape during the next five years to enable Britain’s small business sector to grow.

Mr Javid will today reaffirm his commitment to helping small firms, labelling them the “engine room” of British industry and vow to get “heavy handed” regulators off the backs of small business owners and entrepreneurs.

In Javid’s inaugural speech since being appointed Business Secretary last week, he will unveil an Enterprise Bill which will form the core of the first Queen’s speech of the new Parliament.

Mr Javid is expected to talk at the Engine Shed business centre in the Temple Meads part of Bristol: the city where he grew up, living above his parents’ ladieswear store.

Possible reforms could soon be announced by the Government including lighter regimes for SMEs in new legislation and improved impact assessments.

“Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them,” Javid is expected to say.

“As Business Secretary I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs.”

Anna Soubry, the new Small Business Minister, described the pending Enterprise Bill as “no nonsense”, stating the Government wants small businesses to work with them in “identifying and scrapping needless burdens at home and in Europe.”

John Longworth, director general, British Chambers of Commerce (BCC), said: “Businesses have been let down by successive governments promising to make inroads, so we will be watching carefully to make sure these proposals are delivered.

“To further free companies up from red tape and focus on growth, businesses will now expect to see a similar commitment from Brussels.”

Date published 19 May 2015 | Last updated 19 May 2015