unveils new proposals to boost ethnic start-ups
ethnic minorities and disadvantaged areas targeted for new start-ups.
new drive to boost the enterprise culture, encourage more people
to set up their own business and reduce the barriers facing start-up
firms was announced today by Minister for Small Business Nigel Griffiths.
proposed package of measures includes:
a 'starter pack' for all prospective entrepreneurs making it easier
to understand what assistance they can get and what they need
to do when setting up in business;
boosting business success by increasing the numbers seeking advice
and improving the standards of business advisors - research shows
that those firms taking advice are 20 per cent more likely to
survive than those that don't;
setting up a National Policy Forum for Start-Ups to improve coherence
of delivery, ensure services meet customer needs, and review existing
improving electronic access to information; and
encouraging more entrepreneurs to act as role models.
Griffiths said: "We want to make Britain the best place in
the world to start up in business.
determined to create a culture of enterprise where entrepreneurs
from all walks of life are given the skills and confidence to put
their ideas into practice.
UK is already one of the easiest places to set up in business. But
finding information or sources of help and advice and complying
with regulations can often seem complex. A starter pack will make
things less complicated.
also keen to increase the take-up of business advice, as it can
make it can make a big difference to success or failure. We're going
to drive up the quality and relevance of advice to make more businesses
consider using it, and the National Policy Forum will help us achieve
Global Entrepreneurship Monitor (GEM) 2001 estimates that in the
UK just under eight per cent of working age people are actively
involved in running a business - compared to 12 per cent in the
strategy sets out to encourage more start-ups from under-represented
groups. For example, GEM 2001 found that men are over two and a
half times more likely to be entrepreneurs than women, while a lower
proportion of both the Asian and black community are in business
(16 per cent and 12 per cent respectively) than the white community
(18 per cent).
Griffiths added, "encouraging start-ups from under-represented
groups will open up whole new untapped areas of potential.
the skills of people who traditionally haven't started up their
own enterprise will create a more dynamic small business sector."
on the Government's proposals, Stephen Alambritis of the Federation
of Small Businesses said, "we're delighted that the Government
is putting such a strong focus on encouraging enterprise.
The small firms of today are the economic drivers of tomorrow."
start-ups and fledgling enterprises is crucial as a new business
is most at risk of failing within its first three years of operating.
This strategy will go a long way to minimising failure and maximising
recent measures to boost the enterprise culture include:
The Insolvency Act 2000 which allows financially troubled companies
the opportunity of a short respite from creditor action while
a rescue plan is put together;
The Enterprise Bill currently going through Parliament which includes
proposals to give entrepreneurs another chance in situations where
they fail through no fault of their own and abolishing Crown preference;
Regional Venture Capital Funds created to stimulate more finance
for small businesses and address market weaknesses in the provision
of that finance.
information can be found on the Small Business Service website,