Welcome to the Make Your Mark campaign’s Enterprise Insights where only the most interesting enterprise developments and stories are delivered to you fortnightly. Remember to follow us on Twitter - @The_Enterpriser.
 

Building Britain's future

A new £750 million Strategic Investment Fund has been launched by the Government in this year’s Budget. The fund has been established to ‘support advanced industrial projects of strategic importance’, with a third of the funding earmarked for low-carbon projects. Also announced in the 2009 Budget Report (pdf: 2.59MB) is a new temporary scheme offering £2000 for individuals to replace cars over ten years old.

Measures to help small businesses through the recession include an extension of the offsetting tax against previous losses provision announced in the pre-Budget report last year, as well as a new scheme whereby the Government will match trade credit insurance payments for businesses, to avoid businesses with cash-flow problems affecting those they trade with.

Young people will benefit from a new scheme guaranteeing a job or training for those under-25 who are unemployed for more than twelve months, as well as an additional £2 million investment in STEM subjects in schools.

The business organisations

Submissions to HM Treasury from the Federation of Small Businesses and British Chambers of Commerce, called for the Government to reduce burdens on small businesses. The FSB also proposed creating a ‘Corporate Mediator’ to liaise between banks and business customers, as well as an ‘Enterprise Allowance Scheme’ to assist unemployed people in starting their own businesses.

Supporting businesses and growth

New Industry, New Jobs (BERR – pdf: 459KB)

A new state-backed bank providing finance to high-growth but risky start-ups, in conjunction with private lenders, has been proposed by the Government in a new report on the future of the UK’s economy. The report also highlights the Government’s work to help the low-carbon, digital and pharmaceutical sectors.
 

In the media

The worst of the recession is over, according to the CBI, who have predicted that an economic recovery will start in spring 2010.

Communities Secretary Hazel Blears, has launched a new £3million fund for communities to transform empty high street shops into new businesses.

Make Your Mark ambassador Jamie Murray-Wells has been honoured as the youngest recipient of a Queen’s Award for Achievement in Enterprise Promotion. International expert on the entrepreneurial mindset, Professor Allan Gibb, received a lifetime achievement award. Previous Enterprising Britain winner, Charles Cracknell, was also awarded for his work in encouraging enterprise in Hull.
 

The think-tanks

Prior to the release of this year’s Budget, two leading think-tanks released reports on how the Government should tackle the recession. Reform’s report ‘Back to Black’ (pdf: 291KB) argues that the Government should aim to reduce public expenditure – by abolishing universal Child Benefit, reducing pay in the NHS, and removing support for pensioners. Conversely, The Work Foundation’s ‘A Boost for Britain: The Case for Activist Fiscal Policy’ (pdf: 830KB) suggested new areas that the Government should invest in, such as in public infrastructure and action to encourage young people to continue in education. IPPR have proposed reforms to the tax system, including a higher rate for high earners and a new carbon tax on domestic fuel and electricity.