The Entrepreneurs’ Forum, which represents more than 300 North East high-growth businesses, with a combined turnover in excess of £2.3 billion and 23,000 employees, has raised the main challenges affecting the region’s scale-up companies with the Government.
The meeting with Elizabeth Truss MP, the Chief Secretary to the Treasury was organised by the ScaleUp Institute.
Entrepreneurs’ Forum Chairman Nigel Mills, and chair of the Lakes Distillery, who attended the meeting on behalf of North East scale-ups, raised issues facing growing businesses including the skills gap, the importance of EIS and SEIS investment schemes, export credit guidance, the importance of embassies and consulates supporting scale-up companies in access to international markets and help with export leads, and the need for schemes supporting scale-up businesses to be devolved to local areas.
The meeting, held at the Treasury, shows that Ms Truss’ is absolutely determined as Chief Secretary to the Treasury to listen to scale-up businesses.
Nigel Mills said: “This was a very positive meeting. I would like to thank Liz Truss for taking the time to listen to the concerns of Scale-up businesses. The potential economic benefits of supporting scale-ups are clear, they are already responsible for all net job growth in the UK, so the fact that the Government is taking the issues that stop them growing seriously is a step in the right direction.
“Scale-ups in the North East, like in the rest of the UK, need to raise money to fund their growth, which is why the continuation and improvement of the EIS and SEIS investment schemes is so important to creating and sustaining economic progress.”
Irene Graham said: “We were very pleased to facilitate this meeting. Scale-up businesses are a vital part of the UKs economic growth and productivity picture and it is very good that in meetings such as this, the Chief Secretary is listening directly to our fastest growing businesses on what is working and what more can be done. We look forward to continuing the dialogue.”