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Britain’s Entrepreneurs Call On Next Government To Cut Bureaucracy And Be More Accountable To Wealth-Creators
15/01/2010
By Lea Pachta
Survey reveals majority feel stifled by state intervention and demand tax breaks to kick-start recovery
A survey of some of Britain's most influential entrepreneurs has suggested many regard Whitehall as overbearing and bureaucratic and lacking the initiatives to help wealth-creators drive growth in the economy.
Asked to highlight issues which would bolster growth, more than two thirds of respondents called for steps including the eradication of NI contributions for start-ups in their first two years of trading. Almost eighty per cent backed a review of Entrepreneurs Relief on Capital Gains Tax to encourage greater investment in smaller businesses; and 86 per cent said a reduction in Government regulation of small business was either 'critical' or 'desirable'.
The survey also painted a picture of entrepreneurs viewing central Government as bloated. When asked how they would improve the environment for business, the most popular response (40 per cent) was to reduce the size of Government. Seventy per cent of entrepreneurs also called for a more streamlined system of support for start-ups with one central place to apply for every available Government grant.
Of the 174 businesses surveyed, more than 70 per cent said their confidence would be improved by a Conservative Government, while 63 per cent said they would lack confidence with a re-elected Labour Government.
The poll was conducted through December by Entrepreneur Country, a community led by Julie Meyer of entrepreneurs, investors, corporate partners and media who are dedicated to reducing the cost of entrepreneurship and educating society about the voice of the entrepreneur. It found that most high growth businesses feel that a combination of taxes, lack of incentives and tax relief, and bureaucracy, have combined to stifle the hopes of entrepreneurs.
Julie Meyer, CEO of Ariadne Capital and... continued on page two >
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