Great opportunities for Startups in current economy

Amidst the economic crisis that the UK is experiencing, investors and entrepreneurs can see a shed of light with more opportunities for the Enterprise Investments scheme and the Seed Enterprise Investment Scheme offering Capital Gains Tax Reliefs (CGT) for investment in Startups on a rolling basis.

Today people prefer leaving their 9 to 5 jobs that have been uncertain with the inflation higher than their pay rise and start creating their own businesses which is great for the rise in opportunities hence the more protection and support from the government.

There is hope for long-term positive prospects and the restructuring of public finances and as mentioned with early stages companies benefitting from this financial period.

The Chancellor’s budget keeps a high emphasis on promoting the innovative sphere of UK companies by keeping an important incentive for R&D investments.

Indeed, Research and Development (R&D) tax relief spending has been misused and Hunt seeks to clearly rehabilitate and support R&D-intensive businesses and provide them with what they need to further develop by increasing R&D expenditure from 13 per cent to 20 per cent.

The government intends to keep the entire R&D budget and there will be a considerable increase in public spending for R&D to £20 billion by 2024-25.There is a desire to turn innovation into leading companies, which could be a turning point for the British economy and the revival of the economy in the upcoming months.

Moreover, the Chancellor has for mission to make the UK the world’s most innovative and competitive global financial center with 10s of billions of pounds invested for the growth of small businesses through Solvency II.

(Sources: TechToday, UKBAA)

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