Liz Kendall MP: Government must take strong action to help small businesses
Earlier this week, Sir Peter Soulsby launched Leicester's economic action plan to boost growth, create new business and jobs, and tackle unemployment.
The plan will help bring new investment to our city, backing the efforts of existing companies and supporting businesses to start up and thrive.
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It also aims to create 800 new apprenticeships and work placements, so young people get training and jobs, and businesses get the skills they need to expand and succeed.
Leicester's economic action plan is an ambitious strategy, and rightly so.
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Our city has enormous potential because of our central location, good transport links, our two fantastic universities and our thriving, entrepreneurial businesses, many of which have great links overseas.
I am working hard to back local businesses and support good jobs and training.
Last week, I met with local representatives from the Federation of Small Businesses (FSB).
Small and medium-sized companies are the backbone of Leicester's economy and crucial to our economic recovery.
The FSB told me one of the biggest problems small companies face is the banks' continuing reluctance to lend, both to existing businesses and new start-ups.
They are also concerned about the stagnation in our construction industry, which affects many local firms in the supply chain.
Leicester's economic action plan will make a real difference, but the Government should be doing far more to back our efforts. Ministers have made a lot of grand statements, but their words have failed to match the reality.
Last year's national infrastructure plan made big promises, claiming £250 billion would be spent on new projects.
Twelve months on, not a single one of the road-building projects has begun. Output in the construction industry actually fell by 2.5 per cent in the third quarter of this year.
The Government's new Funding for Lending Scheme should be increasing access to the money small and medium- sized businesses desperately need.
Yet, six months after the scheme was announced, lending to businesses has actually fallen, with many lenders tightening the terms and availability of loans and overdrafts for SMEs (small and medium enterprises).
The Prime Minister also promised his new start-up loans scheme would provide 2,500 loans to young entrepreneurs to help get their business ideas off the ground.
Only 43 loans have been granted so far.
The Government is out of touch with what is happening in the real economy. It should listen to businesses and take strong action, including in the Chancellor's statement next month.
A proper British investment bank would increase lending to small businesses and get major infrastructure projects more quickly off the ground.
Using the funds raised from the 4G mobile phone spectrum auction to build 100,000 affordable homes would boost the construction industry, help businesses in the supply chain and create hundreds of thousands of jobs.
A one-year national insurance break for every small firm that takes on extra workers would make a big difference too.
These are the measures I'll be pressing for in the run-up to the Chancellor's statement and beyond.
Comments
by joe-bloggs
Tuesday, November 27 2012, 11:18AM
“OI Liz...if you had an idea for a business and went to the bank for a loan to get it off the ground,with government assistance,what would you consider to be a good idea for Leicester?A science park?mmm not a rush at that idea.
How about a nice niche shop in the City?Hang on....parking !mm
How about an out of town business park,free parking ,lots of shops nearby.mmmm.
Business rates going up,even though lots of the area are vacant.
Nice unit in High Street .£50k+ rates and tax a year .
Come on give us a clue,please!”
by joe-bloggs
Tuesday, November 27 2012, 11:08AM
“pope pete and porky are doing a great job of making Leicester a success of the green footprint .nobody wants to come into the City.All s**off to out of town where at least they can park and there are no empty shops .”
by disident3
Monday, November 26 2012, 5:27PM
“If Saint Peter Really cared he would make the City shopper friendly, why does he think so many use B/leys or Fosse Park. Because they are shopper friendly and free parking. Bringing in out of town preferred contractors instead of using local companies.”
by wooliback3
Monday, November 26 2012, 1:02PM
“so in not so many words our lord mayor wants more Arthur Daley,s and Dell boys selling cheap imports so that larger shops buy foreign goods”
by Lynnieheal
Monday, November 26 2012, 12:11PM
“this government has done nothing if am honest and wont either its all talk NO ACTIONS”
by Lynnieheal
Monday, November 26 2012, 12:09PM
“she will do nothing as usual , my husband has his own business and has had NO help at all none and hes coping with me very ill with a really bad disease. NO MP cares or does nothing if am honest”
by disident3
Monday, November 26 2012, 11:22AM
“Yes Job creation! I seem to recall that here in Braunstone. Cost £50 million. Did it provide jobs? Yes it did for the old school tie boys the same faces that appear when money is in the offering When the money ran our they ran out even faster. Fact not Fiction.”
by joe-bloggs
Monday, November 26 2012, 7:54AM
“"job creation on the way" some bloke called pete has had a vision to turn leicester into a new las vegas. the the plan is in committee stage but he says it will go ahead anyway but consultants are already being paid.
replica arc de triumph to at charles street /london road junction.
relpica statue of liberty to be on welford road.area around slater street to be a venice ,due to it being a flood plain.the chinese are going to build the worlds tallest student block in welford road,with a facade of all the colours of a Lego box.
town hall fountain to be moved to netherhall to replace a hut.new feature in square to be a statue of saint pete with a single water feature.
abbey park to be one big gypsy site with all associated debris to be a visior attraction.
all traffic lights to be removed so the city is one race track,for the fun of deaf drivers on mobile phones .further plans to be explained at the next open council meeting in the phone box opposite the old bishop street post office .”
by Bob491
Sunday, November 25 2012, 7:52PM
“Just like Osborne, but more intelligent!”
by democrat
Sunday, November 25 2012, 7:42PM
“Liz Kendall
Just what experience of running a business does she have ?
Has a degree in History though
And finally got elected in Leicester after a couple of failed attempts elsewhere
Good old Leicester - always willing to give a home to those without a job”