With a little less than 30 minutes to go until the Budget speech, I am looking forward to a pro-entrepreneur business set of proposals and actions to support growth for the future.
Looks like the Institute of Directors (IoD) are too with some of their proposals – here’s one in particular that I like:
Introducing an exemption from future capital gains tax for entrepreneurial investments. If a new company starts in business between now and 5 April 2012 then the people who subscribe for shares in it within that period would be exempt from capital gains tax when they sold those shares, whenever they sold them. This would encourage the injection of fresh equity capital into businesses (only shares subscribed for would qualify, not shares bought from existing shareholders).
If we want more private sector jobs then we need more private sector businesses.
How do you encourage entrepreneurs and business owners to take that capital risk? This is one good idea. Let’s hope George has plenty more up his sleeve!