New legislation will help Derbyshire firms to flourish

Latest business news
Latest business news

Derbyshire business chiefs have welcomed measures unveiled in the Queen’s Speech to help small businesses.

The Small Business, Enterprise and Employment bill was one of 11 bills announced by Her Majesty during a speech in Parliament last Wednesday.

The new legislation is intended to give small business owners fairer access to compete for £230bn worth of annual public procurement contracts.

It will also include measures to ensure larger companies pay small business owners promptly for work they do for them.

Chris Hobson, Head of Information and Representation at the Chamber of Commerce for Derbyshire, Nottinghamshire and Leicestershire, said: “Small businesses are the lifeblood of the economy and anything which helps to harness entrepreneurial spirit and remove the barriers which prevent small businesses from creating jobs and growing has to be a good thing. The proposed Small Business, Enterprise and Employment Bill will go some way towards giving small businesses the confidence to employ, invest and export.”

There were also proposals to make it easier for small businesses to access finance and remove red tape and measures to tackle zero-hours contracts and national minimum wage abuses.

Some childcare regulations will also be made more flexible.

Mr Hobson added: “The economy has shown real signs of progress over the past 12 months as it has moved away from the recovery phase towards sustainable growth.”