The National Enterprise Network (NEN) emphasizes the urgent need for government intervention to maintain vital business support infrastructure for micro and small enterprises. These businesses, comprising 99.2% of UK companies, are crucial to the economy, contributing significantly to private sector turnover and employment. NEN Chair Alex Till highlights the challenges posed by impending funding cuts and the negative impact of short-term funding contracts on the established network of local business support agencies, warning that this could stall economic growth and innovation.
Without strategic intervention, the loss of this expertise and infrastructure will severely hinder the growth potential of the UK's small and micro businesses, ultimately stalling economic recovery and innovation.
The recent short-termism of funding contracts, which often go to private sector firms with no established advisory quality assurance... undermines our country's ecosystem of high-quality, tried and tested business support.
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