Dear James,
What are your thoughts on last week’s Budget from an entrepreneur’s perspective?
Isaac Lilos, co-founder Arty Globe by Hartwig Braun — artyglobe.com
James says:
“I was pleased to see a number of the business community’s important issues addressed. The reinforcement of the loan guarantee scheme,
with a low interest rate made available to small businesses, was a valuable component.
The Chancellor’s plan to simplify returns is good news for three million British companies — it will certainly benefit firms in my Hamilton Bradshaw group.
The announcement of enterprise loans to help young people start their own business was extremely positive. The enterprise management incentive scheme, which provides tax benefits to encourage shared ownership among private businesses should also be very positive for entrepreneurial companies.
But something I would have liked to have seen was a move towards a small-business administration. Now is the time for a strong voice within government for small firms.
The best news was a commitment to reducing corporation tax to 24%. This is significant for the UK as a whole but particularly for innovative companies that are looking to grow and employ more people.
Another important move was the cut to the 50p tax rate: it’s the one we were all looking out for and I think the Chancellor took the right decision to address this issue.”
For James Caan’s new book, Start Your Business in 7 Days, is out now.
To write to James with your business questions, email askjames@standard.co.uk
