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Enterprise Act Becomes Law

Measures introduced by the new Act include:

  • establishing a Small Business Commissioner to help small firms resolve issues such as late payment,
  • including the actions of regulators in the Government’s £10 billion deregulation target and increasing transparency through annual reporting requirements,
  • extending the successful Primary Authority scheme to make it easier for businesses to access consistent, tailored and assured advice from local authorities, giving them greater confidence to invest and grow,
  • protecting and strengthening the apprenticeship brand, introducing targets for apprenticeships in public sector bodies in England, and establishing an Institute for Apprenticeships – an independent, employer-led body that will make sure apprenticeships meet the needs of business, and
  • creating a legal obligation for insurers to pay claims to businesses within a reasonable time.

“Together these measures will give a big boost to British enterprise,” commented Business Minister Anna Soubry. “The Small Business Commissioner will help tackle the scandal of late payment – one of the leading issues for smaller firms. While the positive steps to reduce the burden of regulation and give more young people the opportunity to do an apprenticeship will benefit millions of businesses across the country.”

 
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