The Prime Minister has said, during a speech to the Federation of Small Businesses (FSB), that 3,000 rules will be removed or changed in order to help SMEs prosper.

The changes in removing the impact of regulations are expected to save as much as £850 million per year.

Mr Cameron said that the changes would allow government to: “get out of the way of small business success”.

European SMEs buoyant about growth

The government have placed SMEs at the heart of its long-term economic plan, with local businesses being seen as the way forward to decreasing unemployment and increasing local investment.

FSB's policy chairman, Mike Cherry, said: “government must focus on how they can support these businesses in job creation and growth while the UK's large businesses need to play their part, too, in supporting ambitious small businesses”.

SMEs offered funding for superfast broadband upgrade