Tech

When the UK unleashes the potential for innovation

CEO a law office The government, which supports high-tech companies across the country, has urged the government to release the shackles of national innovators. Toby Harper, CEO of Harper James Solicitors, said startups will be key to driving the economy throughout the post-pandemic period.

He says: “You Run a fledgling startup The challenges for the last 16 months have been the same, either from a rushed home office or by leading an international company that employs tens of thousands of employees around the world. And those who have successfully survived this pandemic should be proud to have overcome these uncertain times in one fell swoop.

We have a long way to go to be “released” from this virus, but many of today’s relaxation of restrictions is an important milestone for businesses and is seen as an opportunity to look forward to and plan for the future. There is no doubt.

No matter where you look, there is a reason to be positive. Last year, 835,494 new businesses were registered in the UK alone. That’s over 2,200 daily. It also increased by 41% in 2019, demonstrating that the pandemic is actually supercharging it, rather than sweeping the UK entrepreneurship.

Investment has also increased significantly. Covid-19 headwinds combined with the UK’s withdrawal from the European Union have boosted equity investment in UK SMEs by 9% last year. A total of £ 8.8bn is the highest record since the UK Business Bank began tracking data 10 years ago.

The record growth seen in 2020 also appears to have been covered by the first quarter of 2021, with £ 4.5bn worth of equity investment in UK companies in the last three months alone.

At Harper James Solicitors, we witnessed this in person during a difficult year and a half as we also grew and prospered. As a law firm for entrepreneurs, we currently work with about 2,000 ambitious businesses of various sizes to support them at each stage of their life cycle.

In a way that works with our team of experts to allow many to struggle with the challenges of the last 16 months, expand, secure investment and be very optimistic about the future. I pivoted.

Entrepreneurs across the country have shown remarkable innovations during the most difficult times, with rapid supply chain switching, a shift to telecommuting, and the launch of great new products and services customized for technology-driven markets. It was exciting to witness the resurrected and insatiable entrepreneurial spirit of British companies. But now we need to build on it.

There are many things that can help the business we support Harper James Solicitors Will grow further. Innovator capital gains tax rates will be a positive first step.

Today, the percentage of entrepreneurs CGT is low, but it doesn’t really pay off to the best innovators behind the launch of large-scale biotechnology and fintech. Further reductions in CGT for visionary entrepreneurs will help drive more innovation and accelerate economic recovery.

Continued investment in schemes like kickstart will also help companies looking to grow in the future. Expanding the scheme when graduates graduate from college will help transform the employment market and provide tomorrow’s innovators with today’s opportunities.

A new commitment to the government’s upgrade agenda is also essential. Harper James Solicitors supports businesses throughout the UK. And if the pandemic taught us something, it means that you really don’t need a shiny city center office to thrive. With the right support, you can work and succeed from anywhere.

Ministers need to ensure that village and town-based go getters have the same opportunity to thrive as those heading to work daily on the subway, trams, or metro.

Finally, we need to look at government policies that are in line with the optimism that many companies are currently feeling. With economic activity returning to normal, Deloitte reported last week that companies are preparing for a boom in employment and investment. Companies are taking advantage of record low interest rates and tax incentives to unleash their investments to meet rising demand.

Companies are clearly confident in the strength of the economic recovery since some restrictions were lifted in April. But this confidence is lost if it is not consistent with decisive and ambitious political leadership. This removes the uncertainty that many entrepreneurs I speak of have been the most difficult to deal with in the last year and a half.

Today, it should not only lift restrictions, but also lift economic constraints and radically restart growth. A visionary and ambitious business has helped drag our economy into the toughest 16 months of generations. Well, if we leave it to them, they will ensure that a brighter day will come. “



When the UK unleashes the potential for innovation

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