06 May 2016
Enterprise Act to create Small Business Commissioner
The new Enterprise Act which becomes law this week aims to help benefit Britain's five million-plus companies.
The creation of a new post of Small Business Commissioner will be among the fresh ideas included in the Act. This figurehead will help to resolve late payment disputes and other issues facing small businesses.
The Act also sets out to reduce bureaucracy and increase the number and quality of apprenticeships. A new Institute for Apprenticeships will be created to achieve the latter.
The Primary Authority initiative will expand to make it more simple for companies to get tailor-made advice from councils.
In addition, the Act aims to establish more openness within businesses via yearly reporting stipulations.
Sajid Javid, the Business Secretary, says the new Act should bring security and growth that will be to everyone's advantage.
He says it will help the Government support company owners, who he describes as the British economic recovery's "real heroes".