Growth and innovation in SMEs will be 'vital' to economic recovery

23/03/2011

Growth and innovation in small and medium-sized enterprises (SMEs) will be vital to the UK's economic recovery, according to Entrepreneurs in Action.

The organisation claims that equipping fledgling entrepreneurs with the ability to capitalise on business opportunities with SMEs will be an important challenge to overcome on the road to economic recovery.

Derek Browne, chief executive and founder of Entrepreneurs in Action, said: "Research shows how important small business growth and innovation will be to our economic recovery.

"Giving young people the skills and confidence to make the most of those opportunities, is one of the most important challenges for the education and business sectors," he added.

Furthermore, the Federation of Small Businesses (FSB) called for the government to nurture a culture of entrepreneurialism as unemployment is on the rise.

John Walker, national chairman at the FSB, said that as public sector cuts are starting to bite, the Budget can highlight an opportunity for the chancellor to put a spotlight on self-employment and encourage entrepreneurship.

Posted by Nicola Richards