By Daniel Hunter
Business accelerator programme Entrepreneurial Spark is calling for political parties pledge support for the UK's start-ups after the general election.
The start-up support organisation wants all the main parties to commit to five concrete measures that together would provide a huge boost to entrepreneurship and ultimately Britain’s economy.
The measures are as follows:
- A Minister for Entrepreneurs to represent their views in Cabinet, independently of the department representing big business.
- A significant rise in the threshold at which businesses must register for VAT, from £82,000 currently to at least £100,000.
- Further tax and NI breaks for start-ups that take on staff in their first three years.
- Free business space and support for all start-ups.
- Tax breaks for larger corporations that support entrepreneurs.
Entrepreneurial Spark chief executive Jim Duffy said: “In the lead up to the general election, politicians from all parties have been keen to talk up their backing for entrepreneurs and small businesses, which they rightly recognise as the growth engine of the economy.
“These are the people creating the wealth and jobs that can pull Britain away from recovery and austerity, into a new phase of sustained growth. But that will only happen if entrepreneurship and ambition is supported, and that is why we are calling on politicians of all parties to embrace our challenge and sign up to our policies for entrepreneurial growth.
“These five measures are relatively cheap and would pay for themselves many times over through the growth they would create. But they would send a message to entrepreneurs throughout the world that Britain means business and is supporting its start-ups by cutting red tape, providing funding options and help to grow, and giving them a voice at the heart of government.”