Mark Prisk MP, shadow minister for small business, has called on the insurance industry to join the debate about the “true character” of risk in small business.
The Conservative minister told delegates at today's Insurance Times' conference, Making Money from SMEs, that the market had an “integral” part to play and it needed to “spread the word” about the danger and the rewards of risk.
He said: “We need to begin a public debate about risk and why it is essential to enterprise and therefore our national well being.
“You as individuals and as an industry need to get involved in that debate and bring your expertise and know how.”
The minister described small business, of which there are 4.1m in the UK, as “vital to the economy” and “essential to the well being of our community.”
Prisk, who is concerned that the attitude to risk has “changed for the worse”, added: “I passionately believe we need to change this mind set in the country about risk and reward if we are to truly involve the next generation of entrepreneurs.”
