Entrepreneurs are the engine for economic growth - they need as much encouragement as we can give

Posted by Jenny Stewart

Chief Executive of Liverpool & Sefton Chambers of Commerce

Fri 17th, Mar

We’ve all met the natural entrepreneurs - the Richard Bransons of this world who start wheeling and dealing before they are old enough to even buy a drink.

However, for most people starting a business can be a daunting leap into the unknown - they need nurturing and encouragement and a belief they are supported.

Through the chamber’s Spark Up accelerator programme we have seen first-hand the transformational effect the right environment can have on an initially nervous and unsure would-be entrepreneur.

In times of austerity, with rafts of people still at the sharp end of spending cuts, the Government have a responsibility to support those taking matters into their own hands – many of whom have been left with little or no other option.

It is why Chancellor Philip Hammond’s Budget provoked such a reaction from the business community last week.

Proposing to raise National Insurance contributions for self-employed people as well as cutting dividend tax-free allowances may have seemed, on paper, like sound fiscal ideas - but it sent out a terrible message and I can’t help but wonder if The Chancellor had said it out loud before pitching it to the nation?

I’m incredibly proud to operate in Liverpool – it is a city bursting with great business ideas and bold, bright, enterprising people. And in times of economic uncertainty we need entrepreneurs and risk-takers more than ever. Sole traders have the capacity to prosper and create businesses that offer employment and that process is the real engine for growth in our society.

Liverpool accountant and Liverpool Chamber member Peter Taaffe said this week: “I can’t remember the last time a Budget stirred quite so much emotion.”

It’s an apt comment because starting and nurturing your own business is a very emotional journey. When people get past their initial enthusiasm the everyday worries kick in - will I be able to pay my mortgage, support my family, just make ends meet?

But you know, some good could come from the past week. One of the positive things to come from the Budget was a promise to review the business rates system, which is fundamentally broken and needs to be fixed.

Maybe the controversy over the now-scrapped NI rises will spark a wider debate on how we value entrepreneurship in our society.

We need to take a look at business and employment taxation to ensure the system is competitive and equitable - and encourages the entrepreneurial dynamism this city and this country so badly needs.

Jenny Stewart

Leave a comment

Comments...

Posted by kingo root

Kingo root app is best avaialable rooting app for android and windows both. Try this app for error free root and make your device faster as much as possible. kingoroot apk

Posted by shareit for ios

Posted by Frank Wooton

The iPhone 7S will act as the perfect bridge between the last generation iPhones that we saw till 2016 and the next level iPhone 8 that we are all looking forward to. But will we see the iPhone 7S and the iPhone 8 being released together, or a year apart as has been the norm up until now? Can’t wait for Apple to make an announcement!

Posted by William Kreps

Today, we can’t simply ignore the importance of the video and movie streaming applications as we have been more dependent on our smartphones. And talking about the video streaming applications, SnapTube is by far the most famous and downloaded streaming application of the current time. So want more insight on the SnapTube app? Check out this website SnapTube Apk Latest Version
12>>>

Post a comment

 
   
 

How Can You Best Deal With Customer Disputes?

Thu 23rd, Feb

The Federation of Small Businesses published a report (Tied Up 2016) recently exploring the cost of disputes to UK small businesses.

Street Wisdom is Coming to Liverpool!

Mon 20th, Feb

TimScottHR is bringing Street Wisdom to Liverpool City Centre.

How Trump's triumph could inspire businesses across the UK

Tue 24th, Jan

Why you can learn from Trump’s election campaign victory

Removing overwhelm from Marketing – Planning and Structure

Mon 24th, Oct

Transform your marketing for 2017

How To Maximise Your Marketing From Entering Business Awards

Tue 18th, Oct

With our Annual Dinner Awards 2016 approaching, we look at some of the key reasons you should nominate your business for awards