Northern Powerhouse

70% of the North’s Small Firms Don’t Believe in ‘Northern Powerhouse’

70% of the North’s Small Firms Don’t Believe in ‘Northern Powerhouse’

70% of small businesses in the North don’t believe George Osborne will create a ‘Northern Powerhouse’, according to a report by MarketInvoice and Censuswide. The survey of over 1,000 small firms found that over half (56%) of small business owners believe that the government is not genuinely committed to increasing investment in the Northern region. When asked if the chancellor of the exchequer had done enough to support them, only 4% of business owners said he had. New initiatives for the ‘devolution revolution’ announced during the Budget 2016 included £60m dedicated to the development of the new High Speed 3 (HS3) rail link between Manchester and Leeds, £75m to develop plans for a new trans-Pennine road tunnel and £20m a year of new funding dedicated to schools in the Northern Powerhouse... »

Only Half of Small Business Owners Support Osborne’s “Northern Powerhouse”

Only Half of Small Business Owners Support Osborne’s “Northern Powerhouse”

Just 50% of small to medium sized business owners back chancellor of the exchequer George Osborne’s “Northern Powerhouse” plan, according to a new report Federation for Small Businesses (FSB). The survey of more than 3,000 members, revealed that while nine in 10 (93%) small business owners claimed to know about the “Northern Powerhouse” – a fifth (21%) said they were not actually clear what the concept meant in practice. Furthermore, almost a fifth (16%) of Northern firms still need to be persuaded about how the “Northern Powerhouse” concept will positively impact their business. Small enterprises cited greater local control over spending (40%) as their top priority for the “devolution revolution” alongside investments in digital infrastructure (37%), inter-city transport (37%) and workpla... »