The Manifesto published today reinforces the importance of supporting UK startups beyond Brexit, through both the Enterprise Investment Scheme (EIS) and funding commitment for the British Business Bank (BBB).
Specialist investment manager Oxford Capital welcomes this public declaration of support for digital businesses and entrepreneurs. Commenting on the Conservative Manifesto, David Mott, Managing Partner, said:
Conserative Manifesto and EIS:
The UK’s digital entrepreneurs will be buoyed by the continued support from political leaders post Brexit. We have seen the scale of ambition of entrepreneurs rise significantly over the past five years and the Conservatives recognise this. It is no longer enough to build a business and sell it to the Americans. Many are now looking to list their businesses here in London and plan to lead them for the longer term. For investors, the Enterprise Investment Scheme (EIS) offers the opportunity to support some of the best entrepreneurs while benefiting from a generous package of tax advantages.
On the support for the British Business Bank:
More funds for the BBB is a welcome commitment for entrepreneurs and for all those risk takers that support them. With more branches around the region, companies will have greater access to capital and support. London’s digital economy is strong and has a fantastic density of talent and ideas. But this is not limited to within the M25. For example we backed Outplay Entertainment, a mobile games company in Dundee that has seen fantastic growth. And Push Doctor, in Manchester, that is the leading consumer business connecting patients and GPs.