News

Some good news in the Budget for UK entrepreneurs

24.03.2010

Whatever the motivation, it was really good today to see the UK government putting in place some entrepreneur and start-up friendly items in the budget.

Some of the things which may catch founders and start-ups eyes:

– Extending 10% capital gains tax from £1m to £2m, giving founders more incentive to develop businesses with significant outcomes
– Extending 40% tax relief on CAPEX from £50k to £100k, helping small businesses invest more affordably in critical equipment
– Raising by 15% the procurement target that must go to SMEs, driving an additional £15bn in spend, providing critical demand and revenue to start ups
– Building an Institute of Web Science around Tim Berners-Lee to push the commercialization of the semantic web and build on the great progress around data.gov

With over €3bn in committed early-stage venture capital in London looking for great startups across Europe to back, its good to see the UK government trying to create a more entrepreneur and start-up friendly environment.Whoever wins the election I’m sure will have no choice but to continue and build on this.

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