Supporting growth

SMEs and entrepreneurs drive economic recovery and growth. ICAEW advises on improving business support, streamlining regulation and encouraging entrepreneurship.

• Small business economic forum

  At the Small Business Economic Forum meeting last week Michael Izza argued that this year’s budget was a budget for big business rather than the small business sector. A view echoed by both the CBI and the Forum for Private Business.

• Lack of awareness on business tax holding back pro-growth policies, warns ICAEW

  As the CBI publishes a major report on business tax, ICAEW warns that without a more informed political debate on the contribution of British business, the UK cannot pursue the right policies for growth.

• Government welcomes ICAEW’s new Business Finance Advice scheme

  The Government has welcomed the new Business Finance Advice scheme being developed by ICAEW, as recommended by the Industry-led Taskforce on access to non-bank lending.

• Chancellor launches National Loan Guarantee Scheme

  A National Loan Guarantee Scheme (NLGS) has been launched by the Treasury today, which we hope will encourage businesses to apply for bank finance for investment and expansion plans.

• ICAEW hosts the launch of the Breedon Review

  ICAEW hosted the launch of the Industry-led Taskforce proposals to develop access to non‐bank lending channels which was commissioned by Vince Cable and chaired by Tim Breedon, Chief Executive of Legal & General Group plc.

• ICAEW submission to Parliamentary inquiry into entrepreneurship

  On 13 January 2012, ICAEW submitted written evidence the All-Party Parliamentary Small Business Group (APPSBG) inquiry into The Barriers to Entrepreneurship.

• ICAEW and the Regional Growth Fund

  ICAEW has been working closely with the Department for Business, Innovation and Skills (BIS) and Parliamentarians to create a cost-effective and efficient application process for the allocation of the Government’s Regional Growth Fund.

• ICAEW SME Conference 2011 (PDF 332KB/2 pages)

  Our 5th annual conference for small and medium sized enterprises (SMEs) included a keynote speech from the Minister for Business and Enterprise, Mark Prisk MP.

• ICAEW Business Advice Service (BAS)

  Our new scheme harnesses the expertise of ICAEW Chartered Accountants to offer a free advice session to businesses facing a tough economic climate.

• Setting up Local Enterprise Partnerships

  LEPs will replace Regional Development Agencies (RDAs) – read our guide to how these new regional business support bodies should be set up.

• ICAEW SME Access to Finance Report, July 2009

  Continuing the ICAEW’s policy leadership on the issue of SME access to finance, this research presents a new and up-to-date snapshot of the availability of credit for SMEs.

• An SME Policy for a Competitive Europe (PDF 39KB/1 page)

  A Fresh approach to SME policy is needed: one that is framed by a coherant set set of principles throughout the policy cycle.

2012 

• Child benefit changes 

  As currently set out, the legislation is seriously flawed in principle and in practice. Unless the government withdraws this clause and schedule with a view to tabling a more workable alternative in time for the Bill’s third reading, we believe the new tax charge could be an operational and reputational disaster for the government and HMRC.

• Second Reading briefing Finance Bill 2012

• Finance Bill 2012:Committee of the Whole House Briefing

  ICAEW has been briefing MPs in the House of Commons on the 2012 Finance Bill and the briefing helped to form evidence for the Treasury Select Committee report on the Budget.

• Budget 2012: A public policy assessment by ICAEW

  Read our full analysis of what the Budget means for enterprise, the public finances, tax, unemployment, skills, and our insights into the politics behind the Chancellor’s proposals.

• Industry reactions to budget 2012: “Things are not getting better”

  Does the budget 2012 live up to the hopes and expectations of the UK’s business community?

• Budget 2012 webinar: How will it help businesses?

  A panel of business experts held a filmed web discussion to analyse what the Chancellor's budget means for businesses. Hosted by economia editor Richard Cree, the panel considered what the likely impact of the government announcements will be on business and stimulating UK growth. Panelists at the post-budget analysis were Danielle Stewart, partner at Baker Tilly, Sarah Buckley, Public Affairs Manager at ICAEW, and Gordon Skaljak from commercial credit reference agency Graydon UK.

• What does the Budget mean for investors

  David Petrie, Head of Corporate Finance, assesses the headline reduction in corporation tax, enterprise zones, and tax reliefs.

• What the Budget means for social mobility

  Fatima Hassan, Public Policy Manager, discusses the impact of the Chancellor’s proposals on access to higher education, skills, and jobs.

• Robin Fieth interviewed by CNBC ahead of the Budget

  Speaking on the morning of the Budget, Executive Director, Robin Fieth outlined what ICAEW has been calling for the Chancellor to address.

• ICAEW’s 2012 pre-Budget submission to the Chancellor (PDF 415KB/7 pages)

  This is the first year we have integrated member recommendations into our Budget submission via our Regional Strategy Boards.

The Budget will be held on 21 March 2012, read all our comment and anaylsis.

2011

• Budget 2011 - An assessment (PDF 284KB/6 pages)

  ICAEW identified five policy objectives to help maintain growth in the short-term.

• Budget 2011 (PDF 1MB/7 apges)

  ICAEW Budget letter to the Chancellor of the Exchequer.

• ICAEW Tax Faculty

  ICAEW Tax Faculty Budget and finance bills representations

2010

• Budget 2010

  The ICAEW Tax Faculty published its detailed Budget commentary on 29 March.

ICAEW’s research helps to inform policymakers of business issues. ICAEW’s Business Confidence Monitor is one of the largest and most comprehensive quarterly reviews of UK business confidence which helps provide a regular snapshot of the economy.

• Q1 2012 business confidence monitor

  Business confidence steadies but recession still a threat

• ICAEW submission to Parliamentary inquiry into entrepreneurship

  On 13 January 2012, ICAEW submitted written evidence the All-Party Parliamentary Small Business Group (APPSBG) inquiry into The Barriers to Entrepreneurship.

• ICAEW and the Regional Growth Fund

  ICAEW has been working closely with the Department for Business, Innovation and Skills (BIS) and Parliamentarians to create a cost-effective and efficient application process for the allocation of the Government’s Regional Growth Fund.

• UKCES report: Building Future Skills in Accountancy

  As a part of the Government’s growth review, the UK Commission for Employment and Skills (UKCES) was asked to investigate whether the accountancy profession has the skills it needs to support current and future economic growth. ICAEW were represented on the steering group which oversaw the review.

• ICAEW Learning curve: Schooling & skills for future jobs

  Our ICAEW and Centre for Cities research into raising skills profiles in weaker city economies.

• ICAEW SME Conference 2011 (PDF 332KB/2 pages)

  Our 5th annual conference for small and medium sized enterprises (SMEs) included a keynote speech from the Minister for Business and Enterprise, Mark Prisk MP.

• ICAEW Enterprise Survey 2011 policy brief (PDF 235KB/2 pages)

  ICAEW’s annual survey of businesses shows that a raft of new regulation introduced this year has reversed last year’s slight improvement in the UK’s business environment, and that exports remain the best prospect for growth.

• Q4 Business Confidence Monitor (PDF 159KB/2 pages)

  UK economy expected to contract 0.2% in the last quarter.

• ICAEW Business Advice Service (BAS)

  Our new scheme harnesses the expertise of ICAEW Chartered Accountants to offer a free advice session to businesses facing a tough economic climate.

• Businesses frustrated at lack of progress on improving business environment

  The BCM shows a significant fall in business confidence for the third quarter of 2011, its lowest level since Q3 2009 when the UK was still in recession.

• ICAEW and UKTI unite on export

  Trade minister Lord Green and ICAEW chief executive Michael Izza write to ICAEW members on how crucial SME exporting is to economic recovery.

• Setting up Local Enterprise Partnerships

  LEPs will replace Regional Development Agencies (RDAs) – read our guide to how these new regional business support bodies should be set up.

• ICAEW SME Access to Finance Report, July 2009

  Continuing the ICAEW’s policy leadership on the issue of SME access to finance, this research presents a new and up-to-date snapshot of the availability of credit for SMEs.

• An SME Policy for a Competitive Europe (PDF 39KB/1 page)

  A Fresh approach to SME policy is needed: one that is framed by a coherant set set of principles throughout the policy cycle.

• ICAEW Summary - EU SBA Consultation (PDF 49KB/2 pages)

  A Fresh approach to SME policy-making in Europe.

• ICAEW High-tech and clean-tech public policy forum (HTCT) (PDF 50KB/2 pages)

  We created the forum to advise ICAEW policy in these strategically and economically important industries.

• ICAEW representation to the Conservative Party taskforce on innovation (PDF 100KB/7 pages)

  ICAEW representation to the Conservative Party taskforce on innovation

• ICAEW briefing on four steps to innovation (PDF 74KB/2 pages)

  The accountancy profession is well positioned to advise the public sector on obstacles that need to be addressed to support the growth of innovative sectors.

• ICAEW submission to the European Commission on EU innovation policy (PDF 121KB/9 pages)

  Consultation document on community innovation policy

• How to finance a low-carbon economy

  The transition to a high value-added, innovative and low carbon economy has risen to the top of the major parties’ agendas.

• Conservatives consult ICAEW members on business priorities

  Shadow Chief Secretary to the Treasury Philip Hammond outlined measures the Conservatives hope will tackle the public deficit, encourage growth and counter problems with access to finance for business.

• Autumn Statement 2011 - An assessment by ICAEW

  The Chancellor delivered an autumn statement that was clearly aimed at restoring political as well as economic confidence

• Autumn Statement 2011 - Open letter to the Chancellor (PDF 945KB/4 pages)

  ICAEW’s open letter to the Chancellor outlines 12 key recommendations to help restore business confidence in the short-term.