The burden of red tape, access to funding, and better opportunities to win public contracts are all part of the 10 year initiative proposed by the government to help more small companies and entrepreneurs start up and grow.

The plan also includes a £12.5 million fund to invest in female entrepreneurs and help more women start their own businesses. £60 million has been set aside for the small firms loan guarantee scheme, which should supply SMEs with better access to finance.

The Department for Business, Enterprise and Regulatory Reform have pledged to consider the benefits of limiting the cost of new legislation over a specified period. There will also be a review into how SMEs cope and comply with regulation.