The Forum of Private Business has responded to today’s Queen’s Speech by urging the Government to forge ahead as a matter of urgency in key areas affecting small business, particularly in relation to supermarket suppliers.

The Forum of Private Business has welcomed new research suggesting the number of UK firms exporting goods and services has increased, but is urging banks to help keep the momentum going by relaxing lending criteria for firms looking at overseas trade operations.

Ahead of the Queen’s Speech next week, the Forum of Private Business has urged the Government to ensure the Groceries Code Adjudicator has the necessary power to fine supermarkets who unfairly abuse their suppliers, and to ensure new laws on parental leave don’t unfairly harm small business, particularly with economic recovery pinned on the sector.

With the Government  this week updating a list of public sector procurement projects worth £70 billion, the Forum of Private Business has said the ensuing tendering process should take into consideration the length of time contractors take to pay their suppliers.

With almost two thirds of UK SMEs being family owned and run, the Forum of Private Business has said the country’s economic future is hugely reliant on the success of such firms.