According to The Times CEO Summit here in London, Britain is mid-table in the world growth league, but committed to a new rigorous economic agenda. Now that the painful job of drastic budget cuts is underway and an often angry public has aired its grievances, Prime Minister David Cameron appears to be intently focused on new firm formation, the know-how economy, the next digital revolution and private input into “innovating down” health costs. He is determined to protect his AAA Standard & Poors evaluation and keep his economy from heading in the direction of others like Greece.
I report today from the United Kingdom, one year on from Chancellor George Osborne’s June 2010 emergency budget which introduced budget measures designed to create a “strong, enterprise-led recovery,” such as a reduction of payroll and capital gains taxes for entrepreneurial businesses. While, according to Cameron advisors I met in Downing Street yesterday, there appears to be poor utilization of such benefits by new or young firms so far, Downing Street is smartly sticking to a strategy of fostering high-growth firms as a source for new jobs and economic growth. Cameron’s government made several announcements of entrepreneur-friendly policies, which I shared with you in an article at the time. With so many of these budget changes only just taking effect, an analysis of its results will have to wait. However, it is not too early on the non-budget side to see other gears in motion for a new set of efforts to engage more British people in start ups.
To read the full, original article click on this link: Boosting Britains Entrepreneurial Talent - Entrepreneurship.org
Author: Jonathan Ortmans
