08 Aug 2023
Following the decision to remove funding for Local Enterprise Partnerships (LEPs) in England, the Federation of Small Businesses (FSB) has warned that small business support must not be cast aside.
The business group stated that proceeding with the decision to axe funding for LEPs seems 'badly timed' considering struggling economic growth and firms being beset by cost pressures and falling demand.
The FSB has called for the creation of a 'Business England' body to ensure that small firms and business start-ups receive the funding they require regardless of their postcode.
Commenting on the matter, Martin McTague, National Chair of the FSB, said: 'Even though we knew this was on the horizon, the decision to remove all funding from LEPs is still disappointing.
'LEPs are a key ingredient in many local business ecosystems, providing resources, know-how and practical solutions to small firms. The value they provide in return for their funding should not be underestimated, and the loss of the networks they facilitate will only become clear when it's too late to replace them.'