Chancellor’s statement welcomed by EIS Association as great news for the UK’s entrepreneurs

The Enterprise Investment Scheme Association (EISA) has welcomed the announcement by the Chancellor in his mini budget that the Enterprise Investment Scheme (EIS) is to be extended beyond the current 2025 deadline, and that that limits on investments in the Seed Enterprise Investment Scheme (SEIS) are to be raised.

The announcement responds to the calls from the EISA to confirm the extension of EIS beyond 2025, a critical commitment which will give crucial confidence to entrepreneurs and investors in the UK as a time of so much economic uncertainty.

The EIS and SEIS have accounted for more that £27 billion of private sector investment in more than 52,000 of the country’s brightest businesses since its inception and is seen as a major factor in the UK’s “unbounded entrepreneurial drive”.

Director General of the EISA, Christiana Stewart-Lockhart said, “The announcement from the Chancellor this morning is excellent news for entrepreneurs. The EIS is crucial to helping some of the country’s most promising start ups secure much needed investment to grow, contributing both to employment and to the country’s economic wellbeing. It is fantastic to see the Chancellor’s commitment to make ‘this a nation of entrepreneurs.’ His announcements today clearly outline that the Government sees entrepreneurs playing a central role in the UK’s economic recovery.”

Christiana Stewart-Lockhart added, “We are delighted to hear that the Chancellor plans to increase the limit on SEIS to £250,000 and extend the age limit on start ups using the scheme from 2 to 3 years. These changes will enable more companies from across the whole of the UK to use this crucial scheme to secure investment in order to drive innovation and economic growth, further supporting the levelling up agenda.”

“We have been working with the Government to stress the importance of extending the EIS beyond the existing 2025 deadline set by Europe, and the Chancellor’s response to this is excellent news. This morning’s move is very welcome.”

Notes to Editors

Contact: Christiana Stewart-Lockhart:

Seed Enterprise Investment Scheme (SEIS) – From April 2023, companies will be able to raise up to £250,000 of SEIS investment, a two-thirds increase. To enable more companies to use SEIS, the gross asset limit will be increased to £350,000 and the age limit from 2 to 3 years. To support these increases, the annual investor limit will be doubled to £200,000. These changes will help over 2,000 companies a year that use the scheme to grow.

Full details here:

The EISA is the official trade body for the Enterprise Investment Scheme. EISA is a highly effective not-for-profit organisation whose core aim is to help Small and Medium-sized Enterprises (SME’s) obtain the funding they need to grow their business and help drive our economy forward.

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About EISA

Enterprise Investment Scheme Association (EISA) is a not-for-profit organisation that helps Small and Medium-sized Enterprises (SME’s) obtain the funding they need to grow their business and help drive our economy forward. EISA membership represents all areas of the EIS/SEIS industry including EIS/SEIS Fund Managers, Lawyers, Accountants, Tax Advisers, Corporate Financiers, Financial Planners and Wealth Managers, throughout the UK.

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