More tax breaks for start-ups |
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| Economy | |
| Written by Paul Williams | |
| Monday, 18 January 2010 | |
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Entrepreneurs must be aided in leading the UK economic recovery. Entrepreneurs in the UK must be considered as a key driver in leading the UK economy out or recession. This is according to Doug Richard, one of the country’s leading entrepreneurs.Richard says Britain’s entrepreneurs are being held back from leading the UK’s economic recovery due to unparalleled levels of regulatory red tape. Former Dragons’ Den entrepreneur, Richard, will today claim that the policies of successive governments continue to cripple entrepreneurial endeavour, when he launches The Entrepreneurs Manifesto: Empowering The New Wave. The manifesto will be launched at social enterprise learning event, Growing a Successful Social Enterprise, at the Royal Institution today. Richard will call for a new system of tax breaks to encourage a new generation of start-ups and to ease the burden on those whose risks he believes are at the heart of wealth creation. Richard claims that this initiative can be paid for by a radical overhaul of the government business support structure and that entrepreneurs must move up the list of national priorities. Richard, who is founder of the Cambridge Angels and founder of the School for Startups, says: “We must deliver economic freedom for those that take on the risk of starting a new business. Given our urgent need for economic growth now, the current time it takes to comply with government regulation is insane and the regulatory burden is stifling the economic endeavour of a section of society who could be pivotal in lifting the UK out of recession.” The manifesto calls for: · A new deal for entrepreneurs to stimulate social enterprise as a "recession buster" solution for the UK; · A redistribution of all government support from ineffective business support activities to direct credits for angel and family investment in small businesses; · A broad commitment to apprenticeship support across all forms of business to help people be employed rather than subsidized being unemployed; · A demand that the UK government set aside a specific portion of its procurement budget for small business; · The liberalization of the legal structures surrounding social enterprises to assist more start-ups to help solve social issues; · Major investment to catapult the UK out of the slow lane through super high broadband to every citizen in Britain. “We are a nation that has everything it needs to capitalise on the opportunities of the 21st century. However the government must unshackle the only means of increasing wealth and social mobility: the entrepreneurial culture,” says Richard. “We need to champion the pivotal place in society of entrepreneurs and the potential of social enterprise as a pathfinder out of recession,” he added. The manifesto aims to raise the temperature on the issue and status of entrepreneurs in society ahead of the general election and calls for the government to dismantle the entire government funded industry of business support and leave behind an institution whose sole remit is to expedite and simplify the effort of small business to manage the regulatory burden that government places upon it. The event, presented by the University of Essex and supported by the Transformation Fund of the Department of Business, Innovation and Skills will deliver the School for Startups workshop on growing and funding social enterprise and entrepreneurship.
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