A new Board of Trade is unveiled today as part of the Government's plan to support small businesses and boost global exports.
The new look Board, announced by the Business and Trade Secretary, will be charged with helping businesses, including the country's 5.5 million SMEs, to boost their exports and help super-charge growth for the economy as part of the Plan for Change.
Made up of a range of CEOs and business leaders, each member has been handpicked due to their expertise and knowledge in their respective fields.
The new Board members include Apprentice star and entrepreneur Mike Soutar, BT CEO Allison Kirkby, and Michelle Ovens CBE, the Founder of Small Business Britain.
These advisors will be advocates and ambassadors for their sector, supporting businesses, especially SMEs, so they can trade more and grow.
Business and Trade Secretary Jonathan Reynolds said: 'Small businesses are the driving force of our economy, both at a local and national level, which is why, as part of our Plan for Change we're determined to ensure that all SMEs have the tools at their disposal to thrive. The new Board of Trade will be another tool in our arsenal to get more businesses trading around the world and taking advantage of our fantastic FTAs. This won't be a chin-stroking talking shop, because I'll be urging them to boost exports and get more SMEs trading across all their sectors.'
'Because we know that when more small firms export, it leads to more jobs and higher wages and grows the economy.'
The announcement comes in the backdrop of a flagship policy event at Wilton Park which is bringing together government, trade bodies, small businesses and other experts to help inform the government's wider Small Business Strategy that will be published later this year.
A key part of the Government's growth mission and Plan for Change, the three-day summit is aimed at tackling the everyday issues SMEs face to help them to scale up, grow and thrive.
The event will be attended by SME representatives and Export Champions like Exeat's Laura Ward MBE, Creative Nature's Julianne Ponan MBE and Burren Balsamics's Bob McDonald.
In addition, business groups, local government officials, representatives from regional Growth Hubs and experts from the world of finance will attend to offer their key insights to the event.
This means that small businesses, who help grow the economy, will have a seat at the table to generate the policies that matter most to them.
Discussions will include ways to encourage entrepreneurship and speed up adoption of new digital technologies amongst SMEs, how to build a business support service that promotes growth and productivity, ways to better access finance and how to boost the number of SMEs that export overseas.
A key issue faced by small firms is access to finance. They often rely on finance to help them start up, expand, and grow. That's why a major Call for Evidence is being launched today to gather information on the issue.
It will look specifically at the current demand for finance, measures the private sector can implement to boost funding, and barriers to growth for hard-to-reach groups, including those with disabilities and ethnic minorities.
Small Business Minister Gareth Thomas said: 'For small businesses, getting off the ground is one of the hardest parts of scaling up, and central to that is the ability to access finance.That's why this Call for Evidence will be important to allow us to see what more needs to be done to support SMEs so they can go for growth.'
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