The UK is to push forward entrepreneurship in retail markets led by the department of business, innovation and skills, following a meeting in parliament.

BIS minister Mark Prisk met with members of the All Party Parliamentary Markets Group at the House of Commons on Monday to address the deficit in market traders and the potential for growth as a result of public sector lay-offs.

The meeting saw pre-eminent figures from UK market and fresh produce organisations representing the likes of the National Association of British Market Authorities (NABMA), Bolton Council, Covent Garden Market Authority, the National Market Traders Federation (NMTF), the Association of London Markets and the FPC discuss various business start-up mechanisms.

Prisk championed the government’s Enterprise Allowance - whereby start-up businesses receive the equivalent of jobseekers’ allowance for three months before it is halved - as well as the Prince’s Trust for business mentoring. He is also eagerly awaiting the government-backed review by TV retail guru Mary Portas aimed at halting the decline of shopping on the high street.

He said: “SMEs drive growth and innovation in the UK. If you have the ambition and ability to work hard then you can be your own boss. Unfortunately, we are down at 17 in the world rankings for start-up businesses and that needs to change.”

NABMA policy development manager Krys Zasada expressed concern that one in three business failures occur within the first three years and continued support should be given.

The NMTF is pushing its NMTF First national training scheme for would-be retail market traders and has the backing of the department for communities.