The Newham Chamber of Commerce has welcomed new government measures to help small companies outlined in this afternoon’s Queen’s Speech.
Among a host of wide-ranging measures scheduled for the coming 12 months, the Coalition announced plans to tackle companies abusing zero-hours contracts and minimum wages, while promising to help remove red tap hurdles.
The upcoming Small Business, Enterprise and Employment bill will aim to give small companies fairer access to compete for an estimated £230bn worth of annual public procurement contracts.
Lloyd Johnson, chairman of the borough’s Chamber of Commerce is looking forward to seeing the plans put into action.
“It’s a good day for small businesses in Newham,” he said. “I couldn’t see any real negatives in the Queen’s Speech.
“Small businesses are the backbone of communities and it’s vitally important that they are able to succeed.
“Even as smaller-sized companies, measures such as tackling minimum wages will mean more money in the pockets for the people of Newham which will only benefit the local economy.”
The Queen, speaking on behalf of her government, also announced plans to make sure larger companies pay small business owners quicker for work done for them.
Rogue company directors are also to expected to be hit harder by a corporate ownership bill, which will increase the period they can be banned from trading.
John Allan, national chairman of the Federation of Small Businesses said: “The Small Business Bill reflects the growing recognition of the role small businesses have to play in driving forward the economy and the need to do all we can to support them in that effort.”
Pubs are also set to get a financial boost with plans to help tenants struggling to pay rent or beer costs.
A new statutory code for pub tenancies will be created, with a mediator put in place to reach fair agreements on disputes between publicans and pub owners.
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