Local MP Andrew Stunell has joined a line-up of MPs and Peers questioning experts on how to boost the economy by making it easier for small firms to become more productive and grow their businesses.
Commenting, Andrew Stunell MP said –
“With more new small businesses starting up than ever before in Stockport I’m keen to see them prosper and grow. This Inquiry is taking a hard look at what are the barriers, and how Parliament and Whitehall can work to break them down.”
Despite the UK economy growing, employment rising, and a flourishing of entrepreneurial activity, productivity in the UK is 21 per cent lower than in the rest of the G7 countries. As of next week, this conundrum, known as the ‘productivity puzzle’ is what is being tackled by the All Party Parliamentary Small Business Group of which Andrew Stunell MP is a member.
Over a two-day inquiry Andrew Stunell MP will be hearing from the Federation of Small Businesses (FSB), membership bodies, academics, banks, think-tanks and Local Enterprise Partnerships about how changes to business support, LEPs, access to finance and young people's skills could increase productivity levels in the small business sector.
Following the hearings, the All Party Group will publish recommendations based on their findings, and on written evidence already submitted to the group by thirty organisations. The All-Party Group will then present these recommendations to colleagues on the frontbenches, to inform the work of both Ministers and Opposition Spokesmen.
It is hoped that this report could lead to real change to boost the nation’s 4.9 million small businesses.
John Allan, FSB National Chairman said –
"The FSB commends the plans of the All Party Parliamentary Small Business Group to look into productivity. We look forward to the seeing the findings, and encourage Government and Opposition alike to reflect on them as they develop future small business policy."