The UK’s small and medium sized businesses will be crucial to boosting the economy, said Lord Young in a speech to entrepreneurs at the Institute of Directors (IoD) headquarters yesterday.
Part of Global Entrepreneurship Week, which encourages entrepreneurs to ‘make a job, not take a job’, the Pitch event was aimed at encouraging entrepreneurship in the UK as young businesses pitched to a live audience and a panel of judges including Julie Meyer, Tim Campbell, Karen Darby and Wilfred Emmanuel-Jones for a prize of £50,000.
Recently appointed by prime minister David Cameron as the government’s new enterprise tsar, Lord Young has been tasked with a remit to slash red tape for small businesses.
Speaking to an audience of entrepreneurs at the Pitch Grand Final 2010, Lord Young said his objectives include cutting red tape, in particular with consideration to home-based start-ups and, finding ways of making the UK more business friendly.
Lord Young told Growing Business that “cutting red tape will be the key way this economy is going to get started again.
“I am going to look at how the government treats small firms, as everything in government policy is currently dealing with larger companies.”
The winner of the Pitch 2010 was Active Minds, a provider of activities for dementia sufferers. Runners-up included Arctic Farm, Gaist, Re-Jigged, Glitter Beach and Candlelight Creations.
Events for Global Entrepreneurship Week are being held at venues around the country. For more information visit www.gew.org.uk.
Growing Business caught up with Lord Young after his speech at the IoD where he briefly outlined his key priorities for businesses.
© Crimson Business Ltd. 2010