I would like to see all MPs do work experience with small businesses before they are allowed to stand for election and long before they take their seats. This might allow them to make decisions based on the real engine room of the economy. The MP's ignorance of business and organisations is severely handicapping their ability to govern. The work could include stacking shelves, call centre work, dealing with the public anywhere - it will all help as long as they roll their sleeves up.
I would also like to see a 50% income tax break for all entrepreneurs, starting their first business when they employ their fourth person on PAYE and no corporation tax on these businesses for three years. I would like to see councils waive rates at 50% too. We need aggressive schemes to encourage entrepreneurs and new employers.
Much as we laud the number of business start-ups (435,856 last year), the failure rate is too high. Every start-up application should come with an offer of a government training programme assuming the directors are novices. Funding for business training for entrepreneurs of all ages will cut down the failure rate and improve the growth and employment rate.
Stephen Archer will take part in the Smarta budget webchat today at 12.30. Join the discussion and get your questions in here.
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