While this segment of business will benefit from the trickledown from the radical overhaul to planning laws and devolution of powers to the regions by transferring more responsibility to local mayors, there are concerns that there are no focused measures for smaller business owners with even plans to tackle late payment not making a mention.

There are concerns that changes to employment law to give workers greater rights and an increase in the national minimum wage will add significantly to costs for SMEs.

The Federation of Small Businesses (FSB) has called for more government action to support growth and job creation for entrepreneurial businesses and start-ups.