- Federation of Small Businesses criticizes PM for excluding them from advisory council
- Concerns over lack of representation for small enterprises and local communities
- FSB questions the expertise of a panel composed only of major corporate CEOs
The Federation of Small Businesses has criticized the Prime Minister for assembling a group of “corporate bigwigs” and “suits” as advisors.
The largest British small business group criticised the prime minister for omitting them from his new council of private sector advisers.
Rishi Sunak’s fixation on “corporate bigwigs” and “suits” was criticized by the Federation of Small Businesses (FSB).
Its remarks coincide with the PM’s new Business Council’s initial meeting, which includes over a dozen FTSE-100 chairs and CEOs.
Its members include Dame Alison Rose, the CEO of the NatWest Group, Amanda Blanc, the CEO of Aviva, Charles Woodburn, the CEO of BAE Systems, and Simon Roberts, the CEO of J Sainsbury.
The sole non-London blue-chip manager is Google DeepMind CEO Demis Hassabis.
A top FSB executive said Mr. Sunak’s new council lacks “diversity among the UK’s brilliant 5.5 million-strong business community”.
The FSB’s head of external affairs, Craig Beaumont, stated, “We’ve been told that this group was formed in response to complaints that corporate Britain is not being heard.”
“However, Downing Street is the nation’s cockpit and should be open to suggestions and talent from the entire business community.”
The FSB, which represents 160,000 SMEs and is one of the most influential business lobbying groups in the United Kingdom, questioned the efficacy of a panel composed exclusively of CEOs of major corporations.
What do these suits know about the challenges small enterprises face in our local communities and on our main streets?
“What about the need for a fresh surge of new businesses? How will small business proprietors be able to implement AI and Net Zero? How about addressing the entrenched problem of late payments by UK boards to their small business suppliers?
Mr. Beaumont added, “The United Kingdom is home to some of the most dynamic, world-changing small businesses; they would inject disruptive new ideas from the economy into public policy thinking.”
In addition to these large incumbents, they could be added to that table.
Mr. Sunak is campaigning for his economic agenda before the next election despite high inflation impacting several sectors.
Downing Street stated that the new council would “discuss ways to boost investment, innovation, and access to skills and talent.”
There are also representations from AstraZeneca, Barclays, Diageo, Shell, and SSE.
No. 10 reports that the council members’ businesses employ approximately 330,000 individuals across the country.
Mr. Sunak stated, “The more businesses innovate and invest, the more we grow and create good jobs across the nation.”
I look forward to hearing from company executives about how we can solve their problems and open new development opportunities.
The Conservatives’ election performance may hinge on the Prime Minister’s ability to foresee a big decline in inflation next year.
Boris Johnson, whose relationship with private sector executives was frequently strained, presided over several meetings of his business group, which included Octopus Energy, Iceland Foods, and Virgin Atlantic executives.
Under the leadership of Sir Keir Starmer, Labour has been attempting to reposition itself as a government-in-waiting that is business-friendly.
