Changes announced in the Autumn Budget, coming into effect from 2020, will focus EIS and SEIS on knowledge-intensive companies, a sector that will be a key part of the economy in future. It’s clear that these schemes will play a significant part in the Government’s post-Brexit plans. It will be necessary to continue to promote the benefits of schemes such as EIS and SEIS to ensure that the nation’s entrepreneurial economy is suitably Brexit-proof.
Director General of the Enterprise Investment Scheme Association, Mark Brownridge, is of the opinion that: ‘The Government has a responsibility to ensure that investment schemes, such as the Enterprise Investment Scheme (EIS), are better promoted in order to ensure that domestic investment continues in a time in which many investors may be looking overseas instead. Keeping UK SMEs well funded in post-Brexit Britain will be key for the entrepreneurial economy that makes up 99% of UK businesses.
With uncertainty in UK markets stemming from the risk of a no-deal Brexit it’s more important than ever that investors in the UK are using their capital to help domestic businesses and the UK economy to grow in the coming years in order to deliver on the promise of coming out of the EU in a stronger position than before.’