Owen Redman’s Post

The Liberal government's recent budget announcement is disappointing news for entrepreneurs and investors. The budget will reduce investment, stifle innovation, and discourage risk-taking. Instead of creating programs to stimulate growth, the budget is designed to pay for additional bureaucracy and to rectify numerous mistakes. In contrast, the UK government has created programs that stimulate the startup ecosystem, including the Enterprise Investment Scheme (EIS). This government initiative encourages investment in small businesses. Investors who back qualifying EIS businesses can claim a 30% tax relief on their investment, allowing startups to raise up to £12 million in capital. This injection of funds can fuel expansion plans, product development, and market expansion, while also supporting innovation, job creation, and economic progress. It's important to support growth and innovation in startups, and investors are rewarded for doing so through tax relief. Let's take a cue from the UK government and create programs that encourage investment, foster growth, and support innovative small businesses. Despite the government's shortcomings, we live in one of the best, safest, and most beautiful countries on the planet, and our people are inclusive, good, and smart. Let's work towards a change that benefits us all.

Initial reaction to today’s #Budget: overall, it’s a sensible one, given our current fiscal situation and the need to ensure the UK remains competitive both globally and within Europe. Increasing Capital Gains Tax for chargeable assets – including share sales – to 24% reflects this balanced approach as does increasing CGT for carried interest to 32%. Both schemes are vital for encouraging founders to build businesses here in the UK and in bringing venture capital investment into the UK economy, which is essential for our economy’s growth. What will be crucial moving forward is working hand-in-hand with the government and our investor community to determine how carried interest will be taxed as income from 2026, applying bespoke rules that account for the unique characteristics of venture capital. Another key area for us is people – how do we both attract and develop more world-class talent? Maintaining Business Asset Disposal Relief (previously Entrepreneurs Relief) at the lowest tax rate, albeit with incremental increases over the next two years, is very important in enticing more people to migrate their careers to startups. Keeping this scheme helps us maintain our competitive advantage across Europe, but we must remain vigilant to this. Of course the cost of talent will increase with employers’ National Insurance contributions rising, impacting scaling teams and potentially pressurising the war on talent between UK tech firms. So we must double down on initiatives to bring the best and the brightest into the industries of tomorrow. It’s great to hear this Government plans to prioritise policies that support entrepreneurship and innovation including the protection of R&D, and we look forward to working together over the coming months to ensure these policies are conducive to the growth of our tech ecosystem and our economy as a whole. Rt Hon Rachel Reeves Jonathan Reynolds MP Peter Kyle Keir Starmer #UK #Tech #Founders #Entrepreneurs #Innovation #VC #talent

💼 It’s Budget Day! In the U.K. What’s in Store for Startups and Investors? 🚀 Today, all eyes are on the UK budget announcement and its potential impact on the investment and startup landscape. Here’s what to watchi closely: 🔸 Tax Changes Will we see adjustments to Capital Gains, (#cgt) Inheritance, and National Insurance? Even minor changes here could shape the startup ecosystem, influencing investor activity and risk-appetites. 🔸 Support for Growth-Stage Funding The UK’s funding gap is a hurdle. More support for Series A and beyond, particularly through pension fund investments, could be the boost UK startups need to scale domestically. 🔸 Tax Relief Investment Schemes (EIS & SEIS) Likely to remain unchanged, these schemes are critical for early-stage funding. Any updates on these would be a surprise, but indirect tax changes such as adjustments to inheritance tax could still impact their effectiveness. 🔸 High-Net-Worth Investors With potential CGT and inheritance tax adjustments, could this deter high-net-worth individuals who fuel our startup sector from investing in the U.K.? Ensuring these investors stay engaged is essential for a thriving start up ecosystem. The big question today: Will the budget prioritize innovation, growth, and support and fuel the UK’s entrepreneurial spirit? Let’s see what’s in store later today! 👊🏼 #BudgetDay #UKBudget #Startups #Investment #Innovation #Growth #newable

On Wednesday, Chancellor Rt Hon Rachel Reeves delivered the #AutumnBudget which resulted in mixed reactions 👀 Some of the #tech and #investment industry experts who shared their thoughts with Gina Marrs at TechRound were: 💭 Cordelia Meacher, our Managing Director and Founder, believes the Budget shows a "complete lack of understanding" about how much business owners and #entrepreneurs support the British #economy and drive #growth. 💭 Royden Greaves, CEO and Founder of Jarvis, thinks #innovation must remain at the forefront of the #Government's agenda and scrapping Business Asset Disposal Relief will be "damaging" to the UK's #startup ecosystem. 💭 Timothy Mills, Managing Partner at ACF Investors, maintains that the UK is "well-placed to drive world-leading innovation", but the Government must ensure entrepreneurs are incentivised to stay and build here. Check out the full piece: https://bit.ly/3NOgdql #Budget2024 #Funding #Insight #Opinion #Taxes #Technology

https://lnkd.in/eEk8nMu4 In an era where startups and businesses are booming globally, the UK must stay competitive and attractive for investment. However, recent statements and actions from Labour’s leadership seem to cast doubt on the nation's openness to new businesses. These sentiments risk alienating innovators and investors who look for supportive, growth-oriented environments. Sir Keir, let’s make sure the UK doesn't become a place where businesses feel unwelcome. With the right policies, we can create a thriving economy that supports job creation, innovation, and sustainable growth. Let’s make it clear that the UK is open for business, not just for big players but for startups and SMEs that fuel economic diversity and resilience. Our economy depends on it. Let's work together to make the UK a beacon for global investment and a nurturing ground for ambitious entrepreneurs. #UKBusiness #SupportStartups #InnovationEconomy #InvestmentInTheUK

With new Capital Gains Tax, UK Government wants to sabotage our innovation economy 🙄. The Labour Party proposes to raise CGT from 20% to somewhere around 39%. This doesn't exactly scream "We love innovation!" does it? Yes, we get it. Running a country isn't cheap. But here's the thing: 500 of us entrepreneurs (including some unicorn founders) just wrote to the Government saying this could seriously mess with the UK's tech scene. We're not just being dramatic – this stuff matters. We're out here taking massive risks, pulling all-nighters, forgoing idea of owning a house, and basically putting our lives on hold to build something meaningful (and remember, about 90% of startups fail and we get nada, zero, null...) If the new proposal goes through, you're better off in a full-time role that pays £50K a year, rather than paying a 39% tax rate on £250K from selling your startup. It's a no-brainer if it gets to that. This will also push investors away from the UK, which is a key building block that drives innovation. Is a potential, unintended positive consequence = more CGT > more CGT to write off > more SEIS/EIS investments? I'm an optimist, so I can only hope so. I already see many of my fellow entrepreneurs considering move elsewhere. Plus, there is a sudden rush among founders to exit before the budget proposal kicks in. I'm worried about attracting top talent with stock options. How can we compete with big corporates if the potential upside for employees is slashed? We're really screwing ourselves over here in the UK. The gov needs to understand: kill the incentives, and you kill innovation. Just my two cents (or should I say, what's left of my two cents after taxes 😅). #UKTech #CapitalGainsTax #CGT #Innovation #Entrepreneurship

📌 New UK Budget: What Entrepreneurs Need to Know Positives: ➝Increased Support for SMEs – New grants and relief options to support growth. ➝Innovation Incentives – More R&D tax credits and grants, especially for tech. ➝Workforce Training – Funding to upskill teams and foster talent. Negatives: ➝Higher Tax Burden – Potential tax increases affecting cash flow. ➝Limited Cost Relief – Rising operational costs aren’t fully addressed. ➝Complex Compliance – Added financial incentives bring more regulations. Summary: The new UK budget throws a bit of a lifeline to entrepreneurs, with boosts in innovation funding and workforce training. But it also sneaks in a few hurdles... higher taxes and red tape! 🖕 It’s a bit of a love-hate situation, with new opportunities and fresh challenges. As always, a little extra planning and 300grams of coffee might be just what’s needed to tackle what’s next. Here’s to staying agile and finding those silver linings! #UKBudget2024 #EntrepreneurLife #SmallBusinessUK #InnovationNation #BusinessGrowth #SMEs #UKEntrepreneurs #BudgetImpact #StayAgile #GrowthMindset

Was the Budget as Bad as We Expected for UK Entrepreneurs? Chancellor Rachel Reeves has delivered her first Budget, and for entrepreneurs and scaling businesses, the takeaways are complex. Despite the lead-up suggesting a “doomsday” scenario for SMEs, the measures introduced still present some heavy impacts, especially for those running family-owned or scaling businesses. The increase in Capital Gains Tax (CGT) and the hike in employers' National Insurance (NI) to 15% set for April 2025 represent a clear challenge to larger SMEs—those who are, fundamentally, the backbone of economic growth and job creation. Add to this the restructured Business Asset Disposal Relief and capped Business Property Relief (£1 million with a 50% discount on the remainder), and there’s a new, pressing cashflow strain for many. Succession planning will likely need a rethink, as these new measures could challenge the sustainability of family-owned businesses. Further, with a 20% Inheritance Tax (IHT) on most AIM shares, SMEs relying on AIM investments for funding may feel the squeeze. Combined with other measures—like scrapping Non-Dom Status, the upcoming VAT on private schools, and increased stamp duty—entrepreneurs and founders are openly questioning the UK’s appeal as a base for high-growth ventures.  As an entrepreneur and the Founder of Excelerator Partners, I see first-hand the crucial role scaling businesses play in driving the UK economy. The Budget announcements may not spell disaster, but they undeniably complicate the landscape for business founders looking to grow and sustain their operations here. At Excelerator Partners, our commitment to supporting scaling businesses remains steadfast. Now, more than ever, we need policies that genuinely empower SMEs to innovate, create jobs, and shape the future of the UK’s economic growth. #AutumnBudget #TheBudget #CGT #SME #Scaling #entrepreneurs

Ahead of the Autumn Budget, listen to our CIO Jamie Roberts as he discusses the feedback from our survey on the potential impact of proposed tax changes on the UK's Entrepreneur Economy.   The survey highlighted concerns from UK entrepreneurs:    🔹 Capital Gains Tax and Business Exits: Over half of respondents shared they would likely delay selling if CGT rises, which risks reinvestment into new UK ventures and growth-driven ownership changes. 🔹 Business Asset Disposal Relief (Entrepreneurs' Relief): 37% indicated that removing this relief would shift them toward more conservative growth strategies, with some considering relocation to other tax-friendly jurisdictions. 🔹 National Insurance & Employment: Nearly 70% of respondents fear higher NI would reduce hiring, posing challenges to job creation — a crucial function of the entrepreneur economy. 🔹 Overall Sentiment: 90% expressed worry that the budget changes may stifle growth and investment, potentially impacting the UK’s attractiveness as a global hub for entrepreneurship. YFM advocates for a balanced fiscal approach, one that sustains the Entrepreneur Economy. #TheEntrepreneurEconomy #UKSMES #entrepreneur #autumnbudget #ukeconomy HM Treasury Rt Hon Rachel Reeves Spencer Livermore