Taking a gamble for tax breaks

Windows of Opportunity: Entrepreneur Doug Richard
Windows of Opportunity: Entrepreneur Doug Richard
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ORDINARY people are being urged to gamble their money on start-up companies - in return for tax breaks - under a radical government drive to ease the funding crisis.

The Seed Enterprise Investment Scheme, which has no minimum investment, is being sold as ‘a unique chance for people to do something extraordinary with their money, rather than see it do nothing in a low-interest savings account’.

Investors get tax relief covering up to 50 per cent of their outlay and capital gains tax exemption when selling shares.

A national Windows of Opportunity roadshow aims is to sign up 10,000 new angel investors. It comes to Sheffield on October 12,

It will be spearheaded by entrepreneur Doug Richard who spoke at the Made Festival last week.

He said: “The banks aren’t lending, equity is scarce and traditional investment returns can be poor. With the ‘Windows of Opportunity’ roadshow, I will be demonstrating that there is another way.

“I want to show people who may never have considered business investment that it’s a good option for them, and for the economy. We need a new generation of business angels to get behind the start-up entrepreneurs who are the key to the UK’s economic future.

“Initiatives like the Seed Enterprise Investment Scheme are precisely what is needed, and I’m looking forward to getting on the road and banging the drum for small business investment in the months ahead.”

Business Minister Michael Fallon said: “New start-up companies can make an important contribution to the economy and to growth. This scheme allows investors to put their money into exciting start-ups with a lower level of risk.

“It offers a potential route for entrepreneurs to access additional finance and turn their business ideas into reality. “

The roadshow will be at Sheffield City Hall from 2pm-6pm on October 12. To register for the free event visit the website at schoolforstartups.co.uk/woo/registration/?venue=94&date=97&time=98