This snapshot taken on 26/07/2008, shows web content selected for preservation by The National Archives. External links, forms and search boxes may not work in archived websites.
The Rt. Hon. Patricia HewittThe CBI & Real Business Magazine 9th Growing Business Awards |
 |
|
| (Click picture for biography) | |
CHECK AGAINST DELIVERY SPEECH BY PATRICIA HEWITT, SECRETARY OF STATE FOR TRADE AND INDUSTRY: THE GROWING BUSINESS AWARDS GALA DINNER, 6TH DECMBER 2001 Thank you. I'm delighted to be here this evening – but I'm even more pleased because you've invited me back! As some of you may know, I spoke at the first ever Growing Business Awards back in 1999 when I was Minister for Small Firms and E-Business and a great deal has changed since then. Who'd have thought that Manchester United would only be 8th in the Premiership, the England Rugby team would be beating the worlds best and our football team would be capable of sticking 5 past Germany in their back yard! Unfortunately though, some things never change - it seems as if our cricket team is as terrible as ever! It's a great pleasure though to be back here supporting these awards as the Secretary of State for the DTI – helping to celebrate success in business. The Growing Business Awards are fast becoming the benchmark for achievement by small businesses - the Awards' independence from established companies, the fact that unlike other awards, they are open to both companies and individuals and that they are backed by the CBI and the magazine Real Business really does add great value and prestige to them. It's a great achievement for any small business to win one. I spent most of my working life helping to run small business organisations. They happened to be organisations not designed to make a profit, but they were businesses all the same. So I've experienced at first hand just how much satisfaction you get from pursuing an idea and seeing your business grow. I know how much people who are self-employed or owner-managers of a small business contribute to Britain's prosperity. In the 20th century, it was large corporations that powered the industrial economy. Now it's the turn of small business and the self-employed. A recent study from Foresight - a partnership of business leaders, academics and officials - predicts a rise of nearly one million small businesses over the next decade. And it will be these small organistaions that drive the economy of the 21st century. Already, small and medium businesses account for 99.8% of all UK firms, about 55% of the private sector workforce and approximately 52% of total UK turnover - a combined amount of around £1 trillion. Incredible statistics really. And there are many reasons for believing that the future belongs to small businesses. The competition for talent that a thriving network of small businesses fosters. Creative, entrepreneurial, inventive men and women seek out and get involved with small businesses, become self-employed or start a business of their own. As the 'job for life' becomes a thing of the past, more and more of us will spend at least part of our lives self employed or working for a small and growing business. The speed of innovation. Small businesses generate ideas, allocate resources, and are able to meet their market's needs quicker. Around 88% of all 'novel innovators' - firms which introduce a technologically new or improved product to their market - are small and medium businesses. The internet. Electronic networks allow small businesses to find suppliers, partners and customers all over the world, reducing the power of economies of scale and greatly improving small businesses chances of long term success – but despite my stint as E-Business Minister, I think one of our other speakers tonight might be slightly more informed on this topic than me! My government's, and my personal philosophy, is that economic dynamism and a fair society can and should go hand in hand. A successful knowledge-driven economy needs the creativity of businesses starting, surviving and succeeding. But small businesses also contribute to the health of society - they enable more people to control their own lives and own the results of their efforts. My department is now more committed then ever to helping small businesses. As many of you will know, we have just undergone a radical and wide-ranging review of both our internal structure and of the business support which we offer. One of the many comments that came out of our extensive consultation exercise is that we needed a greater emphasis on delivery for our customers and a strengthened Small business Service - both of which we have fully taken on board. We are also going to appoint a small business equivalent of Lord Haskins - the chair of the Government's Better Regulation Taskforce - with a wide remit to look into regulations impacting significantly on small and medium sized enterprises. We aim to ensure that we have in place an enterprise society in which small firms, at all stages of their development, thrive and achieve their potential. However, I fully agree that it is business - not government - that creates wealth. But there is still much we can and shall do to help ensure that small and growing businesses like yourselves have the best possible opportunity to prosper. Under the new Departmental structure and business support systems, we will be far better placed to provide a better service to one of our key stakeholders - you. Our Early Growth Funding, Business Incubation programmes and Regional Venture Capital Funds are just some of the programmes that are currently in place to help ensure that a greater proportion of start-up businesses with high growth potential go on to achieve real growth. When in place, the department's new business support system will make it far easier for companies such as yourselves to identify and gain access to financial support. We are also fully committed to making sure that support is provided to the people who are traditionally considered to face barriers in new and growing businesses such as women, ethnic minorities, disabled and young entrepreneurs. On that note, I'd like to draw to a close so that we can get onto the food! But before I do, I'd just like to reiterate one key message to you all. I'm certain that growth businesses - like the ones represented by many of you here tonight - are the life blood of the modern economy. They are essential in creating new jobs. Providing new ideas. Driving up productivity and therefore prosperity. That is why supporting enterprise is a key priority not only for my department but for the government as a whole - and that is why I am here tonight. I wish those nominated the very best of luck and hope that everyone enjoys the rest of the evening. Thank you. |
|
|
|
|
Other speeches by The Rt. Hon. Patricia Hewitt
(the following are available from the archive) |
|
