By Marcus Leach
The Prime Minister has been engaging with small and mediums sized enterprises (SMEs) to come up with new ways to stimulate economic growth.
Having recently joined LinkedIn — the social networking group for business professionals — the Prime Minister used his profile to ask:
“How do you think Britain could become more successful at exporting? And if you do export, let’s hear your success stories.”
More than 240 people have responded, with suggestions including greater teaching of foreign languages, broadening the UK’s manufacturing base and cutting red tape.
“Existing regulations should go unless there is a good reason for them to stay. Over 50% of the regulations we’ve looked at so far are going to be removed or simplified. And we’ve introduced a one in-one out process so that any Minister who wants to bring in a new UK regulation has to get rid of one,” the Prime Minister said responding to comments about regulation.
David Cameron promised that UK Trade and Investment would focus more on the needs of small and mid-sized businesses, and that smaller companies would be invited on overseas trade delegations.
He also emphasised the great opportunities that high growth markets such as China and India, and major events like the Olympic Games, offer to British businesses.
The Prime Minister concluded by stressing the crucial role British business has to play in reducing the deficit, saying:
“If the number of British businesses that export rises from around 1 in 5 to over 1 in 4, then we could pretty much wipe out the trade deficit and create about 100,000 jobs.
“We need businesses like yours to step up to the challenge, supported by your advisers — banks, legal and accountancy firms, trade associations, chambers of commerce — in order to make it happen.”
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