Budget Statement 2004: Summary of Small Business Announcements

Building an Enterprise Culture

The following items are of particular interest to small businesses and are grouped in accordance with the seven strategic themes which the Chancellor, the Prime Minister and the Secretary of State for Trade and Industry set out in Small Business and Government: the Way Forward in December 2002.

Building an enterprise culture

A strong entrepreneurial base is an essential driver of growth and prosperity in a modern economy. The government’s vision is that anybody with the talent, potential and drive to succeed in business should have the opportunity and support to do so, regardless of their background, in a culture that values and supports entrepreneurship.

The Budget announced or confirmed the following further measures to strengthen the UK’s enterprise culture:

Enterprise Insight’s campaign to create a step change in the enterprise culture of the UK, which will be launched in June 2004, leading to Enterprise Week in November;

as part of the UK-US Enterprise Agreement, students from the New Entrepreneur Scholarship programme will study in the US. The £1 million Enterprise Promotion Fund, announced in Budget 2003, has made awards to more than 20 organisations;

the first US-UK forum to share best practice in enterprise education will be held in June 2004;

  • the launch of a new competition to identify European Centres of Enterprise – local centres of excellence in enterprise policy;

  • experts in US, UK and Canada are holding an online summit in April 2004 on women’s entrepreneurship. This is the start of a trilateral alliance, which aims to increase the proportion of businesses owned by women; and

  • six members of the new National Council for Graduate Entrepreneurship have now been appointed – with David Frost (British Chambers of Commerce) acting as interim chairman and Karan Bilimoria (founder of Cobra Beer) as the Council’s Graduate Champion. The Council is the result of collaboration between the Small Business Service and the Department for Education and Skills, and will promote the idea of starting up in business as a viable career option for students and graduates.

Budget Statement 2004: Summary Small Business Statements – Crown Copyright © 2004-2012

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