If you have concerns about the long-term state of the British financial infrastructure, you are not alone, as the Business and Trade Committee (BTC) shares your concerns.
There is hope on the horizon as the BTC have vowed to take a look at the chronic underinvestment in the UK and see what they can do to help business owners like yourself.
Is there chronic underinvestment in the UK?
This is the main thing that the BTC are currently considering.
Rt Hon Liam Byrne MP, Chair of the Committee, said: “Britain has world-class science, world-class entrepreneurs, and world-class capital.
“But we lack a world-class system to connect them.”
This may be something that you have felt as a business owner, as you may have seen investment and growth in specific industries.
A persistent feeling of fragmentation across the UK has been stifling growth for a considerable amount of time, and the BTC have launched a new inquiry to determine the impact of this and how to address it.
Rather than merely making “tweaks at the margins”, the new wave of investment is designed to establish a “new architecture of investment for a new age of risk.”
There is a fear that “if we don’t rethink access to finance now, we won’t just miss our growth targets” but will in fact “miss the future.”
If anything has become apparent over the course of this year, it is that every country needs to establish their own strong economy, given that global influences can cause untold disruption at a moment’s notice.
What will the inquiry mean for my business?
The inquiry is only just being launched so it is too early to say what the full impact will be.
However, if there are any notable concerns that you have felt for a while with the state of Britain’s investment infrastructure, then you can hope they will come to light.
We hope that business owners will get a chance to contribute to the inquiry as it unfolds, and we will aim to provide you with information on how to do so should the opportunity present itself.
The inquiry itself seeks to address four principal concerns:
- Is British investment too low—and why?
- The suppliers of capital
- The seekers of capital
- Government strategy and the role of ministers
In the wake of the Spending Review, we know that the Government want to invest more money into the country and into businesses.
It can be hoped that this inquiry will help to achieve this goal without inadvertently passing on the financial burden to business owners seeking to make their way in the world.
Despite the looming threat of tax increases and the tumultuous conditions of the global economy, this could prove to be an exciting economic time.
If the Government can deliver on its investment pledges, then businesses could benefit from a new age of prosperity.
If not, we will likely see widespread financial hardship.
Either way, we are on hand to help you make the best of any situation so that your business can continue to grow.
The launching of this inquiry is a promising sign that the BTC are aware of the longstanding issues that need to be addressed to unlock the UK’s economic potential.
Just as the BTC look to get Britain’s finances back on track, we can do the same for your business.
Is your business prepared for new investment opportunities? Speak to our team today to make sure!
