Anna Soubry

Margot James Named New Small Business Minister

Margot James Named New Small Business Minister

Margot James is the new minister for small business, consumers and corporate responsibility, the government has confirmed. The Stourbridge MP replaces Anna Soubry in the newly formed department for business, energy and industrial strategy. James comes from a family of business owners, and worked in sales and marketing for Maurice James Industries – her father’s company. In 1986 she founded her own business, Shire Health, a PR and education services company – before selling it to marketing giant WPP. Between 2010 and 2012, she sat on the business, innovation, and skills select committee, and the committee on arms export controls. The announcement comes just weeks after fellow Tory MP Greg Clark was appointed business secretary. »

Late Payment Epidemic Continues For Small Businesses

Late Payment Epidemic Continues For Small Businesses

Small businesses continue to struggle with late payment problems, with research by Tungsten Network revealing that 12% of companies wait 90 days. Furthermore, many companies say their cashflow is stretched beyond its limit and they are missing out on new business as they cannot afford to take on any new clients until they get paid. The news comes despite a surge in government efforts to lessen the payment delay for small and medium businesses, which included the introduction of an advisory board, a new commissioner to deal with small business complaints, and strengthening the Prompt Payment Code. More recently, small business minister Anna Soubry announced plans to appoint a commissioner under the Enterprise Bill. The government’s overall intention is to get businesses to pay their supplie... »

UK Small Business Population Hits Record 5.4 Million

UK Small Business Population Hits Record 5.4 Million

The UK’s small business community has exploded according to the latest government statistics, which noted a record high 5.4 million private-sector firms this year – a 146,000 increase on 2014. And, according to the Business Population Estimates report, small and medium enterprises currently generate over £1 trillion turnover to the UK economy. In total small and medium businesses make up 99.3% of the entire UK business population, and the reported 146,000 growth – which is the net annual change, and accounts for start-ups and closures – indicates that more businesses launched this year than closed. The data also found that there has been a rise in medium-sized businesses (50 to 249 employees) and sole traders in 2015. There are now 1,000 more medium enterprises recorded at the start of 201... »