FBUK has welcomed a new package of measures announced by the Government to help ambitious businesses start, scale and grow in the UK.
Unveiled by the Secretary of State for Business and Trade, Peter Kyle, at London Technology Week, the package is designed to strengthen the UK’s scaleup ecosystem and includes measures to improve access to talent, investment and government support for high-growth businesses.
Read the Government’s announcement here.
The package of measures include:
- a concierge service to help high-growth businesses navigate government support, regulation, finance, procurement and talent challenges,
- a new visa reimbursement scheme to help scaling businesses attract world-class talent in sectors including digital technology, life sciences and clean energy,
- a pilot programme to strengthen the UK’s scaleUp pipeline through a new private sector delivery partner.
- The appointment of a dedicated government ScaleUp Adviser to help ensure support reflects the needs of growing businesses.
Notably, the package includes a new concierge service for growing businesses, an approach advocated by FBUK in its recently published Policy Agenda, Building Britain for Generations, which calls on government to adopt a targeted strategy to support the growth and resilience of medium-sized firms
Commenting on the announcement, FBUK Chief Operating Officer Fiona Graham said:
“The UK has a significant untapped scaleUp opportunity sitting within its family business sector. Many family-owned firms have the ambition, resilience and long-term outlook needed to grow, invest and create jobs but too often they face barriers when trying to access support, finance or navigate government programmes.
“That is why Family Business UK has called for a dedicated concierge service for medium-sized businesses, providing a single front door to support programme, investment routes and regulatory guidance. We welcome the Government’s decision to move in this direction and are pleased that ministers have heard our calls.
“If we are serious about boosting productivity and growing the economy, we need to ensure that family businesses are fully supported to scale. Unlocking that potential could deliver significant benefits for local economies and communities right across the United Kingdom.”