Spring Statement call for Chancellor to support growth business investments
The industry body responsible for the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS), the EIS Association (EISA) is calling for the Chancellor to recognise the importance of private sector investment into the UK’s early stage growth businesses when he delivers his Spring Statement on the 23 March.
The Enterprise Investment Scheme supports the Government’s growth agenda by helping early stage, high risk UK companies to attract the investment needed to grow their businesses.
In the current difficult market conditions for entrepreneurs, assurances of the availability of the EIS incentives for investors is critical to the UK’s continued standing as a world leader in innovation.
The EISA is calling on the Chancellor to give reassurances in one principal area:
- A commitment that every effort will be made to ensure the continuation of the EIS scheme beyond the current sunset clause of 2025.
Director General of the EISA, Christiana Stewart-Lockhart commented, “We all recognise that the Chancellor has an enormous job to do given the current economic challenges, and ensuring that we support the country’s growth businesses, bringing with them employment, profitability and tax income is crucial to our economic recovery. Making the EIS permanent would provide some much-needed certainty for early stage companies looking to raise equity and for the individuals investing in them. At the top of our wish list is confirmation that the scheme will be extended beyond 2025, so that both entrepreneurs and investors can plan their future for the benefit of the economy as a whole.”