A national campaign has received backing from Ian Lavery, Wansbeck MP, the latest to join the campaign. The Real Life Entrepreneurs’ campaign has been launched by the Federation of Small Businesses to highlight the risks taken by everyday people to start their own businesses. The FSB North East Regional chairman, Ted Salmon expressed his gratitude for the support of Ian Lavery.
The campaign will reinforce the urgency of tackling issues like late payments and access to business finance, so that entrepreneurs can continue to build their businesses and boost job creation. The campaign will urge the government to simplify the tax system, enforce prompt payments and encouraging employers to expand their workforce with incentives.
According to the Wansbeck MP, small businesses play an integral role in the local community, contributing to the local areas. He further added that he hoped the campaign would encourage more entrepreneurs to start a new business. Recent research from the FSB reveals that red tape is seen by one third of entrepreneurs as the largest barrier to UK growth. However, according to a report by the World Economic Forum, out of 139 countries the UK is 89th due to the burden placed on business.
Late payments are one of the most pressing problems, with 70 percent of small businesses receiving payments late, and £5000 or greater being lost by two thirds of companies. Outsourcing to a small business accountancy will help to reduce the risk created by late payers, although the campaign will urge the government to tighten up payment regulations.
