From The Mail on Sunday:
Half had not heard of the GrowthAccelerator, a support scheme for fast-growing firms, while the existence of Tech City, the cluster of technology start-ups in East London was unknown to 48 per cent.
The Seed Enterprise Investment Scheme, which offers tax incentives to savers investing in small businesses was unknown to 42 per cent, and the same percentage had neither heard of Entrepreneurs’ Relief, a Capital Gains Tax relief for entrepreneurs selling their businesses, nor Patent Box, which allows companies to apply a lower rate of corporation tax to profits from patented inventions and other innovations.
Philip Salter, director of The Entrepreneurs Network, which is supported by investment firm Octopus and the Adam Smith Institute, said: ‘It’s encouraging that MPs are increasingly vocal about supporting entrepreneurs. However the fact that they are unfamiliar with the policies already in place is worrying. MPs don’t appear adequately informed to vote on future policy changes affecting entrepreneurs.
‘MPs should be familiar with these schemes so they are able to pass on details to the many entrepreneurs they meet in their constituencies.’
Read the full feature here.
In the first survey of its kind, Parliamentary Snapshot– conducted for the think tank The Entrepreneur’s Network by YouGov- has uncovered the views of MPs on polices impacting entrepreneurs.
Read or download the briefing paper here.
The Entrepreneurs Network is a cross-party think tank designed to bring entrepreneurs to the forefront of political discourse and help make Britain the best place in the world to start a business. TEN is based within the Adam Smith Institute and is supported by Octopus Investments, one of the UK’s fastest growing fund management companies specialising in smaller company investing.