A meeting has recently been held at Downing Street, chaired by David Cameron and Lord Young, the enterprise advisor to the Prime Minister. Present at the discussion were entrepreneurs, professional advisors and business angels to consider ways to encourage new enterprise and share opinions on various issues which have an effect on angel investment.
The coalition government is eager to make it easier for entrepreneurs to start, grow and finance business in the UK. One of the main priorities for the government is to make business finance more accessible to start-ups and small businesses. A number of initiatives have already been introduced by the government to encourage more start-ups and to reveal the entrepreneurial flair in the UK.
The Enterprise Investment Scheme is to benefit from 30 percent tax relief, to encourage greater investment in new businesses. From April 2012, the limits for investment will double to £1 million. The Seed Enterprise Investment Scheme was launched to encourage investors in new businesses which are in the early stages, by offering 50 percent tax relief.
It is hoped that the tax incentives will encourage greater investment in UK small businesses, to stimulate growth. David Cameron said:
“I think this agenda is more important than ever when you look around the world and you see how businesses can go from an idea in someone’s brain, a practical bit of work in someone’s garage to a multi-billion pound business in just a few years.”
A small business accountancy will have details for small businesses and start-ups, which may benefit from the incentives mentioned.
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