General Election 2015: FinnCap CEO Sam Smith wants more help for growing companies and support for UK FinTech

 
Sam Smith
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Sam Smith is chief executive of FinnCap

ELECTION COUNTDOWN: 7 DAYS TO GO

Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party.

SAM SMITH: CHIEF EXECUTIVE, FINNCAP

  1. Put in place further tax breaks for investing in growth companies.
  2. Reduced the corporate tax environment for smaller companies and reduced regulation and bureaucracy.
  3. Maintained Entrepreneurs’ Relief, and widened it to include all employees.
  4. Encouraged entrepreneurship within the school curriculum, and put technology at the heart of education.
  5. Focused and incentivised Tech Hubs to ensure talented people in this country have all the help they need to fulfil their potential.
Ambitious, growing and innovative companies are at the heart of the UK’s economic revival, and we would welcome more Government-led support to help these companies fulfil their goals. Start-ups are of course important, and we have been pleased to see more and more help being made available to them. But it is those companies that have established a foothold and are now looking to scale up and come through their growth stage that can make a real and immediate impact on the UK economy, particularly as they pay tax here, and employ British people. VCT and EIS tax relief for Aim companies have made an immediate impact on the level of investment they can attract, and we would support further tax breaks for investing in growth companies. A reduction in the corporate tax environment for smaller companies would also help stimulate growth, as would a reduction in regulation and bureaucracy.
The tech sector is a great example of how Government policy can really help UK business make a meaningful impact on the world stage. There is a fantastic opportunity to cement Britain’s lead in the fintech sector for example. But we need to be giving the right support to would-be entrepreneurs at the right stage. Entrepreneurship should be encouraged within the school curriculum, and technology should be at the heart of education. We need to get our kids thinking about technology and how that can be monetised from an early age. We would want to see Entrepreneurs’ Relief maintained, and indeed widened to include all employees. Tech Hubs should also be focused and incentivised to ensure talented people in this country have all the help they need to fulfil their potential.
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