Introduction of start-up concierge service, tax incentives and greater education all called for in new business manifesto
With the UK approaching a pivotal general election this July, a new manifesto is calling on all political parties to implement policies designed to ignite entrepreneurship and drive economic growth.
Spearheaded by Alex Clansey (co-founder of the Dunham McCarthy Group and SME start-up platform Venture Planner), the manifesto outlines six key policies designed to empower small business owners and aspiring entrepreneurs. The call to action comes at a time when many businesses and entrepreneurs face significant challenges, including high inflation, rising costs of living, and economic uncertainty.
“We’ve seen that many small businesses and start-ups are struggling due to a lack of clear, accessible funding and support”, stated Clansey. “Our manifesto addresses these gaps and presents actionable solutions. As we approach the election, it’s critical that political parties recognise the vital role of start-ups in driving economic recovery and commit to implementing these policies. By doing so, we can ensure a prosperous future for the UK”.
The six key proposals in the manifesto are:
Tax incentives for start-ups
Offer tax breaks for start-ups in their first few years of operation, including reductions in income tax, VAT, or corporation tax. This will ease financial pressures and allow new businesses to invest in growth.
Digital transformation support
Provide grants or subsidies to help small businesses adopt digital technologies and e-commerce platforms. This will enable businesses to expand their online presence, improve operational efficiency, and reach a wider customer base.
Start-up concierge service
Create a one-stop digital platform where start-ups can access all government related services, such as registration, tax information, and grant applications, streamlining the process of starting and running a business.
Start-up-specific loans and financial instruments
Develop a range of financial products tailored for start-ups, including low-interest loans and government-backed guarantees. This will encourage banks and financial institutions to lend to startups, providing them with the capital they need to grow.
Start-up patent support program
Offer legal and financial assistance to start-ups for patenting their innovations, protecting their intellectual property while reducing the burden of patent application costs. This will encourage more start-ups to innovate with the security of knowing their ideas are protected.
Entrepreneurial education and training programs
Recent research from Venture Planner found that 41% of aspiring entrepreneurs feel formal education has not prepared them for their entrepreneurial endeavours. This initiative would fund programs that provide entrepreneurial education and training at all levels of schooling. This will help cultivate an entrepreneurial mindset from a young age, and equip the next generation of entrepreneurs with the skills they need to succeed.
Clansey highlighted the broader economic benefits of these initiatives. “In the 1980s, despite economic challenges, there was a surge of entrepreneurial spirit that transformed the business landscape. Today, with advanced tools like AI and unprecedented access to resources, it’s never been easier to start a business. Our manifesto aims to break down barriers, inspire confidence, and create a new wave of entrepreneurs. We believe these policies can stimulate the economy, reduce unemployment, and position the UK as a global leader in innovation.”
Clansey calls on all political parties to include these proposals in their election manifestos and policy agendas. By adopting these measures, political parties can harness the untapped potential of aspiring entrepreneurs, driving a new era of prosperity and innovation. For more information on Venture Planner’s AI-driven platform, visit https://ventureplanner.ai/
