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Innovators call on winner of #GE2015 to reform the tax system

Following the launch of all of the UK-wide parties’ election manifestos over the past few days, the Silicon Valley Bank has released some exclusive data from its sixth annual Innovation Economy Outlook detailing the top priorities for entrepreneurs when the new government is formed.

The company interviewed 124 tech sector leaders, ranging from those working on pre-revenue startups to companies worth more than £16m, asking the question: ‘what should the new UK government do to enable business success in the innovation economy?’.

The top answer, highlighted by a quarter of respondents, was a desire to reform the tax system. Specific responses on this, included: “tax relief for entrepreneurs and early-stage businesses”, “reduce the tax burden on pre-revenue companies” and “improve and simplify tax incentives for early-stage businesses”.

Second on the list, identified by 21% of respondents, was that they want government help to access capital. Some said they want more incentives for people to invest in post-Enterprise Investment Scheme businesses, while another said: “provide access to government funds to grow businesses internationally”.

Third on the list was about the government getting better at championing small businesses, closely followed by encouraging immigration of skilled workers.


If you aren’t yet decided on who to vote for at #GE2015, take the Vote for Policies poll now, which is specially tagged to Tech City News, so we’ll be able to understand more about how the tech audience is likely to vote.