2. Strategy for the business environment

The Regional Economic Strategy states that, by 2016, the South East will become one of the world’s 15 most entrepreneurial regions. Oxfordshire will play its part, creating a positive environment for businesses throughout the County.

The major concerns of this and the Regional Economic Strategy for the business environment, are to encourage enterprise and entrepreneurship, removing barriers to growth, nurturing business clusters and support networks, and maximising opportunities created by technology innovation and utilisation.

Small businesses form not only the “backbone” of the economy but they also play a significant role in local communities.

Small businesses form not only the “backbone” of the economy but they also play a significant role in local communities. The fact that the majority of people employed in the private sector actually work in small businesses puts the importance this sector into perspective. Independent small businesses, especially those working on leading edge technologies, need additional consideration.

According to the Economic Profile for Oxfordshire 2004, 75% of employers employ less than 10 people and organisations with over 200 employees account for 33% of employment. It can therefore be deduced that at least 67% of employment in Oxfordshire is in companies with less than 200 employees.

In accordance with the Regional Economic Strategy, the Oxfordshire Economic Development Strategy aims to:

• Encourage a culture of enterprise and entrepreneurship.
• Exploit the commercial potential of the science and technology base.
• Reduce barriers and improve support for businesses.
• Maintain business clusters and support networks.
• Maximise opportunities created by technology innovation and utilisation.
• Improve the environmental performance of all employers.
• Promote enterprise development within disadvantaged areas.
• Increase participation in the labour market.
• Support traditional retail and service sectors.