SCHOOL must play a bigger role in creating the next generation of entrepreneurs, according to the Forum of Private Business (FPB).
It made the case for encouraging potential business people at a younger age as part of its submission to the All-Party Parliamentary Small Business Group’s entrepreneurship inquiry, which is looking at how entrepreneurs drive economic growth, what barriers they face and how these can be removed.
FPB head of campaigns Jane Bennett said: “Schools are vitally important because they are essentially where young minds are honed and appetites for working life whetted. They have a vital role to play in encouraging entrepreneurial spirit – we recognise that and so do our members – which is why we are calling for a greater focus by Government on making sure schools are given the tools for the job.
“That includes a more appropriate curriculum and closer collaboration between schools and local business.”
In addition, the Forum called on the Government to rethink its plans to reduce the number of work experience places for pupils.
“We recognise there’s room for improvement with the current system, and ideally we would like to see more pupils placed with smaller firms rather than big multi-nationals,” said Ms Bennett.
“In smaller businesses pupils have a better chance of working alongside more senior, experienced members of staff who actually have something useful to pass on.
“It beats working in a mail room at town hall or large corporate organisation.”
And the FPB also asked MPs to look again at tax breaks for lenders, NI holidays, access to finance, prompt payment and the new enterprise allowance scheme.
It said lending to small firms would be stimulated if lenders received complete tax relief on the interest received in lending to small businesses. And it called for a shake-up of the NI contributions holiday for new start-ups to improve its operation and fairness.
Ms Bennett added: “This scheme, offering a one-year tax break for new firms taking on staff in their first year, is a step in the right direction. However, the Forum finds that it has been too restrictive. Very few new businesses employ lots of people in their first year of trading and therefore many firms would be unable to take full advantage of the tax breaks.”
