New Business and Trade Secretary Jonathan Reynolds is calling on members of the business community to give their feedback on the government’s main priorities as it outlines its plans to kickstart the economy.

Earlier this week, Reynolds hosted a call with business owners and entrepreneurs across all sectors to outline his vision for economic growth and to discuss how the government intends to push ahead with its business strategy. 

In a subsequent post on social media via the Department for Business and Trade’s LinkedIn feed, Reynolds said: “My message to business is clear – this mission-led government will build prosperity through partnership. We will continue the work we started in opposition to bring together business, government and workers to kickstart our economy and rebuild our country. There is no time to waste.”

The four priorities outlined by Reynolds are:

To deliver a new mission-driven industrial strategy based on boosting productivity, driving green power and building a resilient economy that backs research institutions, professional services, advanced manufacturing and creative industries. The government wants to create a statutory Industrial Strategy Council – a full-time expert body helping businesses plan for the next 10 years, and beyond supported by leading figures in business, the trade union movement and academia.

To support small businesses. He highlighted action on late payments is a priority and changing procurement rules so small businesses have a fair shot at government contracts. Meanwhile, he said the government would be reforming the British Business Bank and freeing up capital for small and medium-sized firms so they can expand quickly.

To reset trade relations and champion British exports with a trade strategy aligned to the industrial strategy, creating opportunities for UK business to break into new markets and attract investment. Reynolds said he wanted to improve the UK’s relationship with the EU, tearing down unnecessary barriers for businesses, while seeking a new trade partnership with India. 

To make work pay by delivering a new deal for working people. Reynolds said he wanted to work in partnership with business to create jobs that provide security, treat workers fairly and pay a decent wage. Improving workers’ rights is one of the strongest levers for economic growth and better productivity, he said. 

Working with businesses of all sizes was critical, Reynolds added. “It’s why I’m asking some questions of business owners to help shape our approach.” The Business Secretary is calling on feedback from those at the business coalface on the following questions:

• How should we use our industrial strategy to kickstart Britain’s economy?
• How have you supported your teams while also growing your business so we can take forward the best examples to inform our work?
• What’s stopping you growing if you’re a small business owner?
• How should we use our trade strategy to drive up exports and sell more British-designed, British-made products and services to markets around the world?

Iain Wright, ICAEW Managing Director, Reputation and Influence, says: “ICAEW members sit at the forefront of business and have huge amounts to contribute to this important debate. We would urge them to share their views and look forward to playing our own part in shaping policy and helping the UK to reach its economic potential.” 

In a meeting with Wright and ICAEW CEO Alan Valance in May, Reynolds said that Labour was being cautious about what it commits to action in the first 100 days in government, to make sure it can deliver on promises. He said the aim was to ensure the UK is perceived as competitive and as an attractive place to do business.

Members should email TellJonathan@BusinessandTrade.gov.uk with any comments on the questions above.