Led by the Coalition for a Digital Economy (Coadec), 182 UK-based venture capitalists, entrepreneurs and academics have come together to publish a new manifesto on how the government should foster British business.
Presented as a set of 24 succinct recommendations on how government policy can better support new business, the manifesto focusses on ways to fuel innovation, create jobs and establish the UK as a global technology leader. In particular, it calls for more tax cuts for entrepreneurs – achieved through tax reliefs for corporate venture capital, a scrapping of the cap on Entrepreneur’s Relief, a reduction in national insurance contributions and the continuation of the government’s Enterprise Investment Schemes.
The manifesto also calls for changes to immigration laws that make it easier for IT and tech students to take up university places in the UK and to continue working and innovating here once their studies are over
The manifesto has been warmly received by politicians and entrepreneurs alike. Shadow Business Secretary Chuka Umunna said: “We want to see more people starting up, leading and working in business and the creation of high-skilled, better-paid jobs. Britain’s burgeoning digital economy has a huge role to play in meeting both of these challenges, and that’s why Coadec’s manifesto is right to emphasise the importance of digital startups as well as the need to foster digital skills.”
Damian Kimmelman, Founder and CEO DueDil, described the manifesto as “brilliant,” “imaginative” and “concise,” adding: “The Startup Manifesto should be compulsory reading in the corridors of power and in communities across Britain. If adopted, these recommendations would give us the edge we’ll need in a hyper-competitive global economy.”