The FPB is calling for a reduction in the burden of legislation, which is a barrier to growth for many firms, and for a greater understanding of the impact that late payment and increases in tax have on smaller firms.

Mr Hancock was first elected as an MP for the Social Democratic Party (SDP) in 1984, holding this office for three years. In 1997, he stood again for election, this time as a Liberal Democrat, and has represented Portsmouth South ever since.

"Most businesses are small and they not only employ a large number of people but are the engine room of future growth for the country. I know from my own constituency the difficulties many [small businesses] are facing at the moment," he said. "The ‘Think Smallest First' pledge outlines that there is much more that the Government could and should be doing to support small businesses."

Mr Hancock acknowledged the difficulties faced by small firms trying to compete with larger companies. He called for a "common sense" approach to tackling the mounting regulations being introduced by the Government, in order to help small businesses to survive and grow.

 "We should let the undoubted entrepreneurial flair and great ingenuity of the British flourish, as not to do so will see the UK falling further behind in world competitiveness leagues," he said. "So I am very pleased that the Forum of Private Business is campaigning for a better deal for small businesses, and I am more than happy to support the ‘Think Smallest First' campaign as an MP."

On receiving the MP's signed pledge, the FPB's Chief Executive, Phil Orford, said: "Mike Hancock's signature adds even more momentum to our Think Smallest First campaign. Having such a passionate advocate of small businesses will be a great asset to the campaign and I am sure having an experienced MP like Mr Hancock on board will help get the message heard in the place it needs to be – Westminster."

The FPB's Think Smallest First campaign was launched in June 2008, and has gained cross-party support from MPs and Ministers. In June 2008, the FPB posted a petition on the Downing Street website, which now has more than 800 signatures from owners of small businesses and members of the public.

Mr Hancock was born and educated in Portsmouth, and is married with two children. He supports his local football team, Portsmouth FC, and enjoys going to the cinema.