Business growth could prompt UK work permit applications

05 Jan 2011 | Posted by Carl Thomas

UK work permit applications could be on the rise following news that the government is due to increase support for businesses to give rise to more job openings.

Indeed, the government confirmed that it aims to push the growth of small businesses to create new companies and more job opportunities.

By 2013 it hopes to have helped create up to 40,000 new businesses through the major expansion of scope of its New Enterprise Allowance plans.

Twice as many people as originally planned will have access to the allowance, which will help individuals to set up their own company with financial support and an expert business mentor.

Prime minister David Cameron commented: "Throughout this year and beyond we will be focused relentlessly on supporting growth and driving job creation across our economy.

"Backing new enterprises to start up and small businesses to grow will be what transforms our economy and will deliver the many thousands of new jobs we will see created this year."

The latest commitment follows the decision to reduce corporation tax from 21 per cent to 20 per cent from April this year. A National Insurance holiday worth up to £50,000 for new businesses is also helping to boost job opportunities in the UK and assist small businesses.

According to government figures, 67 per cent of smaller employers have aspirations to grow over the next two or three years. However, just 20 per cent are actually likely to achieve this growth. As such, the extra support and financing could prove vital for expansion and job openings.