Entrepreneurs to advise small business, Davies announces

DATE: 05 Mar 2008

After pressure from lobby groups, Gordon Brown’s Business Council for Britain will set up a working group of entrepreneurs to advise it on issues affecting small business.

Mervyn Davies(pictured), the council's chairman told The Financial Times, the council will focus on the barriers to setting up and growing small businesses.

The council was formed following a cabinet reshuffle last year in which the Prime Minister abolished the Small Business Council, replacing it with the Business Council for Britain, a move which prompted criticism from small business groups who said the council under-represented small business.

The council includes 16 high-profile advisors including such as Sir Richard Branson and Sir Alan Sugar.

Small business

Mr. Davies, the chairman of Standard Chartered Bank told the FT: “We have absolutely got to reduce the regulation and the red tape for small business; that's a very pressing challenge. And we've got to help small businesses grow internationally without building their cost base."

He told the newspaper, while the UK’s ‘spirit of entrepreneurialism’ is on the increase, citing positive influences from television programmes such as Dragons' Den and The Apprentice, the lack of a US-style venture capital industry to fund start-ups will present a ‘big challenge’ to the group.

Business Council

The full list of members of the council is:

Sir Richard Branson: Founder, Virgin Group [pictured]

Damon Buffini: Managing Partner, Permira

Sir William Castell: Chair, Wellcome Trust

Mervyn Davies: Chairman, Standard Chartered Bank

Sir Rod Eddington: Director, News Corporation

Dr Jean Pierre Garnier: Chief Executive Officer (CEO), Glaxo SmithKline

Stephen Green: Chairman, HSBC

Tony Hayward: CEO, BP

Sir Terry Leahy: CEO, Tesco

Sir John Parker: Chair, National Grid