Magazine article Public Finance

Enterprise Strategy Focuses on Smaller Firms

Magazine article Public Finance

Enterprise Strategy Focuses on Smaller Firms

Article excerpt

A new system of regulatory budgets for Whitehall departments, setting out the cost of regulations that could be introduced in a given period, would be a world first', the government has claimed.

The proposal is one of a series of measures in a ten-year enterprise strategy, published alongside the Budget by the Treasury and the Department for Business, Enterprise and Regulatory Reform.

Enterprise: unlocking the UK's talent also proposes using government procurement to drive innovation, with a particular focus on small and medium enterprises.

An independent review, to be led by Anne Glover of the venture capital firm Amadeus, will examine the barriers to SMEs winning more government contracts and look at the feasibility of setting a target for SMEs to win 30% of all public sector business in the next five years. …

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