Maple Review calls for Business Skills Guarantee to tackle inequality in entrepreneurship

Small Business Britain, in partnership with Xero, has launched the final findings of the Government-backed Maple Review, calling for action to tackle inequality in entrepreneurship. 

The report recommended introducing a National Public-Private Partnership-backed Business Skills Guarantee for secondary schools and a National Micro-Capital System for asset-poor founders. 

The review found that many people from disadvantaged backgrounds face barriers including financial exclusion, lack of business skills, confidence, and limited access to finance.

Survey results showed nearly two-thirds (63%) of founders lacked savings, half (50%) did not know how to access finance, and almost half (47%) struggled to secure loans or grants. 

Small amounts of flexible capital, between £100 and £5,000, were found to be transformative but difficult to access.

The review proposed micro-loans as economic infrastructure, with loans between £100 and £25,000, alongside support for budgeting and cash flow. 

It also recommended that every young person should have access to business skills and role models before leaving education, better financial education, and improved access to digital tools.

Michelle Ovens CBE, CEO and founder of Small Business Britain, said: “Economic deprivation at any point in life is the biggest barrier to starting and growing a business, and that is exactly what The Maple Review is looking to address.