By Claire West
The growth figures published today (Thursday) by the Office for National Statistics are expected to show that the UK has emerged from recession with growth for the quarter buoyed by spending from the Olympics.
However, the level of GDP still remains relatively low and the economy unsettled.
Dan Wagner, CEO and Chairman of mPowa, said, “On the coalface, conditions are still fragile. There is still a reluctance to invest in startups and as a result, we could still see a long road to full recovery. What the business community wants to see is a package of incentives to stimulate growth and create jobs. This is what the economy needs to bring about lasting change now that the Olympic panacea is behind us.”
Dan concluded, “Britain has a wealth of ground-breaking business ideas and startups who could put the country on the map as one of the greatest players on the world stage. We do, however, lack the infrastructure that is often needed to give these businesses the kick-start they need and a fighting chance of survival.
I have called for a capital gains tax holiday on investments in startups. This should be part of an active series of measures to send out the message that we really need home-grown businesses to bring forth a change for the better and full scale growth.”