Changes in the Governments Legislative agenda will benefit SME’s claim Source Marketing Direct.
Source Marketing Direct agree with the Enterprise and Regulatory Reform bill and strongly believe it will add value to UK SMEs. On Friday May 2nd 2012, the Queen of England announced the government’s legislative agenda for the next year. As BBC reported, not all of the government’s reforms were discussed but the focus was undeniably on boosting the UK economy through improvements to business legislations.
Source Marketing Direct observe the Queens speech as a high point of the parliamentary calendar, the speech is an outline of the year to come, written by the newly elected coalition government and delivered by the throne. This year, the focus was on introducing new measures to boost the UK economy. Two bills were focused on – the Enterprise and Regulatory Reform Bill which is aimed at “creating the right conditions for economic recovery” and the Banking Reform Bill which will “foster financial stability and a more resilient banking sector.”
For the SME market the announcement that there would be measures to remove “unnecessary legislation” in order to ease time and costs was warmly welcomed. Source Marketing Direct, London based marketing and sales firm has operated in the UK SME market since 2008. Hector Montalvo, Source Marketing Direct Managing Director says “In all my years of operating a business I thankfully have not had many potentially negative situations arise in which I have had to rely on the relevant legislation. However the changes announced will help small businesses save time and money, and there will be better measures to help employers hire new staff and resolve disputes in the workplace more quickly”.
A new report released by Management Today, disclosed that 65 per cent of new jobs came from around 5 per cent of businesses within the SME market. Source Marketing Direct MD Hector Montalvo comments “that is a huge amount of growth coming from the SME market – it is disproportionate that all of those jobs are only from 5 per cent of businesses within the sector as a whole but even so – it is fantastic. With this kind of growth the SME’s need structured and relevant legislation to guide them. Small businesses just don’t have the same capabilities or budgets to deal with processes the way the big corporate guys do, we need a little bit of extra help!”
The potential changes in these two bills will likely encourage a faster economic recovery. Source Marketing Direct is a progressive business and supports any amendments to legislation that will encourage growth for SME’s in the UK.