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UK entrepreneurial spirit praised

Published On 17 April 2007 at 11:12:36

The entrepreneurial spirit is strong among the UK's small and medium-sized enterprise (SME) owners, according to an industry expert.

Speaking at the Confederation of British Businesses (CBI) Entrepreneurs Summit in London, Richard Lambert said that the entrepreneurial culture in the UK is as strong as it has been for a long time.

"In fact, I'd be prepared to bet that it is as dynamic now as at any time since the Second World War, with the possible exception of a few months around the end of 2000 when everyone went mad in the dotcom bubble," Mr Lambert added.

Despite surveys reporting that government red tape is hampering SMEs, Mr Lambert said that bosses, especially young business people "are more adventurous than they were a generation ago".

However, the CBI still argued that "business taxes are too burdensome and much too complex".

The CBI's upbeat view of UK SMEs was opposed by the British Chamber of Commerce (BCC), which said that the government should do more to encourage "a spirit of enterprise" in the UK outside of London.

David Frost, director general of the BCC, argued that new initiatives should be trailed in the most deprived areas to improve business start-ups in these locations.

He suggested that these could become "new-style zones where companies that start up could be exempt not just from business rates but from employment legislation and National Insurance contributions".

 

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