ENTERPRISE POLICY Flashcards
What is enterprise policy concern
Enterprise policy concerns the decisions and actions taken by government in order to support small and medium size businesses in the UK
Why is enterprise important in the UK economy
60% of private sector employment is in small businesses
They account for almost 50% of all turnover in the private sector
New businesses drive increase competition, driving increases in innovation, quality and efficiency
What does enterprise policy aim to do
Encourage entrepreneures
Support them with advice
Increase access to finance
What are examples of “financial”
Creation of business finance partnership
Business angel co - investment fund
Funding for lending scheme - increasing incentives for banks to loan money
Set up 24 enterprise zones - tax breaks and government support
What are examples of “advisory”
Business support helpling
Business growth service
Mentors me
What are examples of “encouragement”
Encouragement of young eantreprenures (i.e. youn enterprise scheme)
Funding of award ceremonies
