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UK Economy needs Entrepreneurship

It’s the eve of the Autumn budget statement, and many businesses are calling for measures that will help the UK to develop its entrepreneurial spirit. While austerity measures and cuts have been making the headlines, many businesses are hoping for measures that will regenerate the business spirit of the sector, encouraging growth and investment in new innovations. What would your business want from the Autumn statement?

George Osbourne is widely expected to announce new austerity measures in order to decrease the deficit. However, the business community appreciates the need for new measures to help boost SMEs and their role in reinvigorating the UK economy. SMEs provide a huge number of jobs and cash flow within local economies, so it’s essential that this continues to be stimulated if the UK is going to demonstrate long term growth.

Business entrepreneur Dan Wagner, CEO of mPowa, commented: “Businesses need an environment that allows innovative entrepreneurs to flourish and grow – the stability of the UK’s economy relies on it. As we head into 2013, the entire government should think carefully about creating an environment and culture of investment which empowers entrepreneurs and businesses to become successful.”

This investment environment of course relates to business funding as well as the initiatives favoured by the government to encourage entrepreneurship. In order to allow businesses the space to innovate, there has to be enough financing available in order to fund this. With the banks increasingly unwilling to lend, the weight of the country’s SMEs and their finance needs are increasingly falling on the shoulders of alternative lenders – and this is something that they are starting to perform strongly in. From invoice finance to asset based finance and crowd funding, the most innovative businesses don’t shy away from unusual funding methods.

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