The UK has some of the best entrepreneurs and brightest business minds in the world. But to put the dynamism back into our economy we need to make it as easy as possible to start and grow a business: which is why I am a supporter of the Government’s new Employee-Shareholder policy.
Anyone who has ever started their own company knows it’s a risky business. Budding new enterprises can be tied up in red tape, struggling through the complexity of UK employment law without an HR team, and often wary of the risks they’re taking on.
These costs add up to one thing – a huge barrier to hiring people. One of this Government’s most radical policies is to do something about it.
Last October, the Chancellor announced the creation of a new employment status – the employee-shareholder. For the first time, employees will be allowed to give up some of their gold-plated employment rights in exchange for shares in their company. And, if the company succeeds and the shares increase in value, the Government will waive Capital Gains Tax to reward their aspiration.