Back to all Press Releases

Small business group reacts to cabinet reshuffle

The Forum of Private Business welcomes Michael Fallon to the cabinet as he replaces Mark Prisk as Small Business Minister.

Senior policy advisor at the Forum of Private Business, Phil McCabe, said of today's announcement: "Mark Prisk has had an extremely difficult job during unprecedented economic times, and we thank him for the work he has done to help the small businesses sector while in post.

"But we think now is the time for a more radical approach to jump start UK business growth, and Michael Fallon has to come out of the traps quickly with fresh eyes, fresh thinking, and be prepared to consider the unconventional.

"We need further work to reduce late payment, including more action to force public bodies such as local councils to pay their suppliers promptly.
 
"We need new tax breaks for small businesses, and a reduction in red tape which actually leads to less time-consuming bureaucracy and form filling. These are absolutely fundamental issues.

"We also believe the new Business Minster should revisit the Coalition's finance policies and find new ways to get banks to start lending to SMEs, as well as pave the way for alternative funders to compete more effectively in small business finance markets."

Mr McCabe added: "There's no doubt that this is a portfolio of goliath proportions and there are mountains ahead to climb, but the Forum and all our members wish the new minister every success in the job."

Join the conversation

×