Supporting growth

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

News

• ICAEW Business Bank Policy BriefingSize: 175 kbPages: 2ICAEW business bank policy briefing 

  Read ICAEW’s views on the policy proposal for a UK business bank

• A guide to Financial Management for SMEsSize: 930 kbPages: 10A guide to Financial Management for SMEs

  This guide highlights the importance of financial management across the various stages of business development

• 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.

• Business finance advice scheme

  ICAEW has been working with the UK Government together with other professional bodies on a new service for 2013 which will enable businesses to identify ICAEW chartered accountants in practice who can provide independent advice on business finance.

• 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.

• ICAEW supports new Government loan scheme for 18 to 24 year olds.

  ICAEW is pleased to be supporting the Government’s new enterprise loan scheme for 18 to 24 year olds as announced by Lord Young. As part of this new scheme, ICAEW has produced a 9 step guide to help budding entrepreneurs develop their business plans with a direct offer for a free advice session as part of ICAEW’s Business Advice Service.

• 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 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 15 November 2011: summary of the key points made on the daySize: 333 kbPages: 2ICAEW SME Conference 2011

  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 SEM policy for a competitive EuropeSize: 40 kbPage: 1An SME Policy for a Competitive Europe

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

Bills

• Bankruptcy petition reformSize: 184 kbPages: 4EER Bill House of Lords Committee Stage brief on 'Bankruptcy application: determination by adjudicators'

  This briefing outlines ICAEW's concerns on the proposed changes to the bankruptcy process as outlined in the Enterprise and Regulatory Reform Bill.

• Enterprise and Regulatory Reform Bill: Second ReadingSize: 207 kbPages: 3Enterprise and Regulatory Reform Bill: Second Reading briefing

  This briefing outlines the key areas of the Enterprise and Regulatory Reform Bill which ICAEW would like MPs to closely scrutinise at Second Reading next Monday 11 June.

Select Committee responses 

• ICAEW representation to BIS select committeeSize: 262 kbPages: 5ICAEW representation to BIS Select Committee on LEP-RGF

  Response to consultation on Local Enterprise Partnerships and Regional Growth Fund

• ICAEW cited in All Party Parliamentary Small Business Group report on Entrepreneurs

  A Report by the All Party Parliamentary Small Business Group into entrepreneurship published in May 2012 included a number of views from ICAEW.

• ICAEW submission to Parliamentary inquiry into entrepreneurshipSize: 301 kbPages: 12ICAEW 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.

Consultation responses

• Size: 102 kbPages: 7ICAEW representation to the Conservative Party taskforce on innovation

  ICAEW representation to the Conservative Party taskforce on innovation

• Size: 122 kbPages: 9ICAEW submission to the European Commission on EU innovation policy

  Consultation document on community innovation policy

Budget

Budget 2013

• Finance Bill 2013 - Second reading and Whole of House CommitteeSize: 174 kbPages: 3Finance Bill - Second reading and Committee of the Whole House

  ICAEW has been briefing MPs in the House of Commons on the 2013 Finance Bill.

• Letter from Robert Chote (OBR) to the Prime MinisterSize: 419 kbPages: 2OBR letter to the Prime Minister 

  Read The Office for Budget Responsibility’s letter to the Prime Minister ahead of the budget.

• ICAEW 2013 Budget submissionSize: 144 kbPages: 4ICAEW 2013 Budget submission

  Despite the UK’s recent triple-A downgrade, ICAEW’s latest Business Confidence Monitor (BCM) suggests that business confidence is at its highest level since 2011. Recent pro-growth policies such as the increase in capital investment for infrastructure will make a real difference. But to maintain this momentum, the Budget must go further.

• Business opinion

  Our latest research suggests policy progress is mixed. While half of our business members have seen progress on our tax system’s competitiveness, the majority feel there has been no progress on the Government’s other growth targets.

Budget 2012 

• Child benefit changesSize: 64 kbPages: 6Child 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.

• ICAEW Budget and Finance BillSize: 54 kbPages: 5Second Reading briefing Finance Bill 2012

• Finance bill commitee of the whole houseSize: 306 kbPages: 4Finance 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 reportSize: 934 kbPages: 92Treasury Select Committee report on the Budget.

• Budget 2012: A Public Policy assessmentSize: 1.1 mbPages: 6Budget 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. Panellists 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 2012 pre-Budget submissionSize: 304 kbPages: 7ICAEW’s 2012 pre-Budget submission to the Chancellor

  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 analysis.

Budget 2011

• Budget 2011 - An admissionSize: 284 kbPages: 6Budget 2011 - An assessment

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

• Budget 2011Size: 1.5 mbPages: 7Budget 2011

  ICAEW Budget letter to the Chancellor of the Exchequer.

• ICAEW Tax Faculty

  ICAEW Tax Faculty Budget and finance bills representations

Budget 2010

• Budget 2010

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

Autumn Statement

2012

• ICAEW - Autumn Statement response 

  The Chancellor has gone for growth and wants to show that the UK is open for business.

• ICAEW 2012 Autumn Statement submission 

  ICAEW’s open letter to the Chancellor outlines 8 key recommendations to support economic growth and improve business confidence.

2011

• 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

• ICAEW Autumn Statement Submission 2011Size: 945 kbPages: 4Autumn Statement 2011 - Open letter to the Chancellor

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

Parliamentary briefings

• Tax transparency for FTSE 100 companiesSize: 217 kbPages: 2Tax transparency for FTSE 100 companies debate briefing

  ICAEW provided a written briefing for a Westminster Hall debate on tax transparency within FTSE 100 companies.

• Westminster Hall debate on HMRCSize: 213 kbPages: 3HMRC resources and capacity debate briefing

  ICAEW provided a written briefing for a Westminster Hall debate on HMRC's resources and capacity

• Written evidence on the Finance BillSize: 323 kbPages: 10Finance Bill 2013

  ICAEW provided written evidence to the House of Lords Economic Affairs Committee on the Finance Bill 2013.

• ICAEW submission to DWP Committee on Universal CreditSize: 240 kbPages: 7ICAEW submission to DWP Committee on Universal Credit

  ICAEW responded to the Department of Work and Pensions Committee inquiry into Universal Credit.

• CEO Michael Izza on tax avoidance

Read the CEO's latest blog on David Gauke tax avoidance speech

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.

2013

• The impact of public sector cuts on UK businesses (May 2013

  Ahead of the Comprehensive Spending Review (CSR) in June, ICAEW has published research to highlight the impact of public sector cuts on UK businesses.

• Growth: An ICAEW Perspective

  This publication seeks to ensure the Government's Plan for Growth remains a policy priority over the coming months.

2012

• Business Confidence Monitor Q1 2012Size: 950 kbPages: 31Q1 2012 business confidence monitor

  Business confidence steadies but recession still a threat

• Schooling & skills for future jobs: ICAEW and Centre for Cities researchSize: 1.4 mbPages: 28ICAEW Learning curve: Schooling & skills for future jobs

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

2011

• ICAEW Enterprise Survey 2011 policy briefSize: 235 kbPages: 2ICAEW Enterprise Survey 2011 policy brief

  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.

• Business Confidence Monitor Q4 2011 policy briefSize: 159 kbPages: 2Q4 Business Confidence Monitor

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

• 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.

• Size: 74 kbPages: 2ICAEW briefing on four steps to innovation

  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.

• Export challenge: A small practice viewSize: 220 kbPage: 1Export challenge: A small practice view

The Coalition government is continuing its drive to increase UK exports, in support of this, ICAEW hosted a private roundtable with Lord Green and 20 leading small practice representatives, UKTI and UK Export Finance to discuss progress with the government’s ‘Export Challenge’ and what more can be done to help.

• Export challengeSize: 137 kbPage: 1Export challenge

The Coalition government has renewed enterprise and trade policy to help SMEs to do more business abroad. In light of this, ICAEW hosted a private roundtable with Lord Green and 30 leading representatives from across the accountancy profession, UKTI and UK Export Finance to discuss progress with the government’s ‘Export Challenge’.