SME Business News

The Government backed business start up scheme, Business Link, has come under fire in a report commissioned by the Department for Business, Enterprise and Regulatory Reform.

The report which polled 10,000 small businesses, found that only 5% of new business starters chose to use Business Link for advice and assistance. 16% of those polled chose to seek advice from their bank and 12% turned to their accountant.

When looking for assistance with regulations, accountants, trade associations and the Internet were the main targets for new entrepreneurs. Only 3% consulted Business Link advisers, a figure which was also less than those who turned to consultants and solicitors, cited by 6% and 5% respectively.

The underlying result of the survey showed that SME business owners do not have a great deal of confidence in the government run scheme, and would prefer to seek the advice of professional people that are involved in the ‘real world’ of business.

The government business minister, Shriti Vandera responded to the report by announcing that the government will unveil an enterprise white paper next month, to “help unlock the talents of more people.”