Nuneaton’s MP Marcus Jones has welcomed measures outlined in the Queen’s Speech that will help small businesses.

In his role as one of the Prime Minister’s Small Business Ambassadors, Marcus believes that the ‘Small Business, Enterprise and Employment Bill’ will help millions of small businesses throughout the country.

Since being appointed to the Ambassadorial role by David Cameron, and with his own previous experience of owning small and micro businesses, Marcus has grown increasingly concerned with the problem of late payments that cause serious cash flow problems for small businesses. The Bill, announced by the Queen on Wednesday, will remove the problem of late payments reduce the impact of costly and burdensome regulation on small firms. The Small Business Bill includes a package of measures designed to create a fair marketplace, whilst tackling issues such as prompt payment, by strengthening the Prompt Payment Code, access to finance, employment law, procurement and large pub companies controlling rent increases and beer prices for smaller establishments.

Commenting on the measures, Marcus said: “I know the frustration that small businesses feel when larger companies fail to pay their invoices in a timely manner, which can cause significant cash flow problems for smaller firms. This Bill seeks to address that by strengthening the Prompt Payment Code and giving enhanced powers to the Government’s Regulatory Policy Committee. 

“The Federation of Small Businesses has been campaigning for measures like this for some time and I am pleased that Government has been able to act in such a positive way. This should make a real difference for small businesses and enable them instead to focus on succeeding, growing and creating new jobs.”