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Support for entrepreneurs in new Growth Britain Manifesto

E2Exchange, a leading entrepreneurs group, is behind a new Growth Britain Manifesto dedicated to helping entrepreneurs and start-ups make the most of Britain’s strengthening economy. 

A closer look at national insurance 
Among the recommendations made by the E2Exchange is the abolition of the employer’s national insurance contributions for jobless people under the age of 25, plus an extension of the 24 enterprise zones recognised across London and the Southeast. 

National Insurance is a particular sticking point for E2Exchange, which recommends that SMEs also receive £2,000 to £3,000 more employers’ NIC credit per year. 

Positive incentive for new policies 
This Growth Britain Manifesto follows further evidence of Britain’s economic recovery, with the Confederation of British Industry (CBI) confirming that the economy is growing at its most rapid rate in a decade. The British Chambers of Commerce (BCC) agrees, upping its 2014 growth forecast from 2.8 per cent to 3.1 per cent, which means the economy is finally expected to surpass the pre-crisis peak. 

Although E2Exchange welcomes the government’s latest support initiatives for new businesses, it believes more can be done to spur on entrepreneurs and further contribute to the country’s economic growth. One action the group would like to see taken is the establishment of a team within the government’s Department for Business, Innovation & Skills (BIS) dedicated to advising entrepreneurs and making the 700 existing government funding schemes more transparent. 

Reconfiguring business rates 
One thing this new team could consider is business rates, suggests E2Exchange. The group reports that rates are long overdue for reform and recommends the government moves to a system where a company’s rates are determined by performance as well as the property value of its premises. 

Holistic help for SMEs 
Commenting on the manifesto, E2Exchange CEO Shalini Khemka said: 
“The package of initiatives that we are calling for will help to ease the financial burden of employment tax, business rates and access to funding that is disproportionately borne by SMEs, and assist them in taking full advantage of the gathering recovery to boost their own growth prospects.” 

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