Closed petition Improve entrepreneurial schemes and their implementation

Closed on 16 May 2016

While the UK media may portray that there is a lot of funding, mentoring and support for startups, the reality is less positive. Serial entrepreneurs and those with strong personal networks have done well, but the rest of us are struggling. Several start-ups have shut down due to lack of funding.

1) SEIS and EIS only for investors and not for entrepreneurs (with > 30% stake). Investors get unlimited tax free upside and downside protection but there are no safety nets for entrepreneurs. Consider a monthly stipend or tax rebate for entrepreneurs.

2) Grant procedures are slow and cumbersome, and should focus on team and opportunity rather than a detailed plan.

3) SEIS limit is too low and affects scaling up of start-ups. You can't build a scalable business in London with £150K.