Letters to the Editor - 19/11 - UK entrepreneurs, Best of Twitter

UK entrepreneurs

[Re: Entrepreneurs now have their own pressure group – at last, yesterday]

Our recent G20 Entrepreneurship Barometer found that, while the UK is one of the top five countries to be an entrepreneur (with a competitive tax system and business-friendly regulation), we still have close to the lowest score for “co-ordinated support”. The 130 finalists of our 2013 awards saw average revenue growth of 9 per cent to more than £20bn; annual employment increased by 17.2 per cent. It shows the impact entrepreneurs are having on the economic recovery. Giving them a louder and clearer voice will benefit us all.

Stuart Watson, EY partner

According to a recent survey, half of UK company owners expect revenues to grow by at least 30 per cent by 2016. Small businesses are good for Britain, and a pressure group defending their interests is a good idea. It could start by calling for the reform of the Enterprise Investment Scheme – entrepreneurs shouldn’t be restricted to only raising initial capital using the scheme, it should be available for further investment rounds. Ignoring the fiddly Entrepreneur’s Relief, at a top rate of 28 per cent, capital gains tax is higher than the US Federal Gains rate. It should be lowered to 20 per cent across the board.

Peter Watson

………………..

BEST OF TWITTER

Japan announcement to scrap unrealistic CO2 targets and focus instead on green R&D deserves applause.
@BjornLomborg

Forget state-mandated capital requirements. To have a useful banking system, we must let bad banks fail.
@minefornothing

Western European states with minimum wages have unemployment rates double that of those without.
@s8mb

UK household finances deteriorated at increased rate in November. Outlook bleakest since February.
@WilliamsonChris