New Trade Agreement Will Boost UK-US Entrepreneurship? April 1st 2013
Unconfirmed sources suggest that the UK and US have reached an agreement which will be the most significant trade agreement since NAFTA (North American Free Trade Agreement) was signed in 1994 between the US, Canada and Mexico. The driver for the agreement is to ensure that the world’s largest US and UK companies are not allowed to fail. This means the need for government bail outs is reduced and entrepreneurs in both countries can aspire to corporate leadership best practice.
The agreement has the provisional mnemonic of LEER, standing for Leadership, Enterprise, Entrepreneurship and Regulatory framework. The world’s top 500 US and UK companies, plus their respective governments, are expected to sign up to the agreement.
Our source, a Canadian insider on both sides of the Atlantic, called LEER:
‘a pre-emptive strike against anti-economic growth factions and activism for the poor, as seen most recently with the protests against the ‘bedroom tax’ in the UK. This agreement will have the effect of boosting enterprise and entrepreneurship in both the UK and US.
Every new business owner will know they can aspire to the earnings and wealth of the top corporate executives, without fear of regulatory interference, once they are in the top 500 companies. It also creates competition, a kind of Premier league, amongst the 0.1% of serious, companies in the UK that have more than 250 staff.’
Self Regulation Is Key
LEER has been in the making since the financial crash in 2008. The top 100 largest corporates have already led the way towards informal agreement by ensuring they are all supplied by the same handful of corporate advisers such as accountancy firms, lawyers, banks, lobbyists and associations. US observers have also said ‘we’re loving’ the way that successive UK governments have ensured, despite massive downsizing in the corporates, that 95% of all Government employment, training and business support funding goes to the 5% of larger companies.
‘In the face of tricky cuts to your public services such as health and social care you’ve managed to ensure reductions in corporation tax and income tax for the highest earners. Self-regulation has worked well through your Financial Services Authority, British Bankers Association and numerous trade associations for food, drink, energy, communications and technology.
It has been proven in practice and is motivational in terms of record earnings, bonuses for top executives and more openings for senior politicians to progress their career after government by joining the boards of major corporates. This is aspirational for wannabe entrepreneurs and graduates from your two top universities ’ our source added.
The LEER framework is not universally popular with SMEs (‘Smeese’ are 99.9% of businesses in the UK). Stefan Topfer, editor of the Small Business Blog and Chair/CEO of the global WinWeb corporation, with offices in the UK and US said ‘The Germans won’t like it’. Tony Robinson OBE, co-founder of the Enterprise Rockers, a global community of micro enterprise owners, added that such an agreement:
‘will not help the 95% of all business owners that have fewer than ten employees. Instead of their survival and growth it will probably mean they’ll die earlier from lack of any of; nutrition, war, heat and medical services or from food, drink and radiation poisoning. I’d much rather they just paid our bills within 30 days.‘
Our source responded by saying ‘That’s the kind of bleating from unsuccessful, Northern businessmen that we would expect. A negative attitude and low earnings is, frankly, a recipe for disaster in any walk of life. Anyway, LEER comes with a ‘Whistle-blowers Charter’ attached to it. If wrongdoing is suspected then their objections will be heard. We’ve already successfully piloted this and we haven’t heard a peep from the six civil servants we gave a whistle to.’
Ms Soculitherz is a Canadian fashionista, investigative journalist and author of ‘the funniest book on enterprise’, Stripping for Freedom. Ms Soculitherz’s books are available from Amazon and for speaking engagements, please contact her agent, Tony Robinson OBE. Ms Soculitherz is also a Global Ambassador for the Enterprise Rockers movement – making life better and fairer for micro-enterprises everywhere.