Blog

Only one third of UK private business owners believe that the current tax regime supports or enterprise.

The PricewaterhouseCooper ‘Enterprising UK 2009’ survey more than 80% of privately owned UK businesses believe that the current UK tax system is not as stable as it should be and therefore causes less certainty for businesses.

Private Business is calling for a stable and more certain tax environment allowing them to conduct business more successfully. It is not a call for a reduction in the tax rates, as in the current climate that would be hard (although nice), but a more stable system with a reduction in the rate of change would be ideal.

The other concern is that the use of tax reliefs remains low and a lot of businesses may not be aware of their existence. On top of this Government grants for marketing and technologu as well as tax credits for Research & Development or other business needs are not as widely used or even known about as they should be.

With a stable tax system businesses around the UK would be able to make better business decisions and invest in change, look at grants and tax reliefs and spend more time seeing what is available for their companies, including loans that are Government guaranteed.

www.localbusinessfinance.co.uk brings you the latest news and views from the world of business finance

Government for £1bn or more is what is needed for finance for business growth for SME’s This according to leading venture capital figures.

When he spoke to the Western Mail earlier Cardiff born Mr Rowlands said it was clear that some form of government intervention would be needed to provide new growth lines for SMEs looking to expand. He said: “I think it has got to be in the order of at least £1bn as an initial fund.”

He then added: “You have to be absolutely clear that this is a difficult fundraising market, full stop, but I think the underlying nature and characteristics around the sort of SME portfolio it would create should be attractive.