Growth Businesses welcome Chancellor’s Extension of Enterprise Investment Scheme in Autumn Statement
The Enterprise Investment Scheme Association (EISA), representing growth businesses and investors, has welcomed the Chancellor’s announcement in the Autumn Statement that the EIS have been extended to 2035.
Since its inception in 1994 nearly £30 billion has been invested into 53,000 start-ups through the EIS.
Without the extension announced in today’s Autumn Statement, the EIS would have ceased in April 2025, likely resulting in an end to billions of pounds of much needed investment into many of the UK’s most innovative businesses.
Christiana Stewart-Lockhart, Director General of the EISA commented, “The extension of the EIS is excellent news for early stage business growth in the UK. Entrepreneurs are now able to seek much needed investment with the confidence that the EIS will still be available to support their future growth beyond April 2025. The current economic climate has definitely been a challenge for many entrepreneurs and this announcement about the EIS will provide some much needed reassurance for entrepreneurs and investors across the UK.
Today’s announcement is fantastic news for start-ups in all regions and devolved nations. This is a world leading scheme. It’s success in fostering innovation and entrepreneurship, as well as economic growth, has been internationally recognised and it’s great to see the Government backing British businesses in this way. The Government’s emphasis on the importance of entrepreneurship in our economic recovery is very welcome.”
To learn more about the EISA please visit the official EISA website at https://eisa.org.uk.