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

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

Why now is the right time to take IoT seriously

Mon 27th, Jul

Guest blog by Alan Nunn – Communications Subject Matter Expert at CGI

How IoT can create a sustainable future for water

Mon 27th, Jul

Guest blog by Graham Hainsworth – Director Consulting in CGI’s Water Sector Business

Happy 9th Birthday 6th Door Ltd

Tue 19th, May

As I’m leaning on the stand-up desk in my makeshift home office, that over the weeks has been turned into a video and podcast recording studio

How to take back control of your water costs

Fri 13th, Mar

While most businesses already have a comprehensive strategy in place for their electricity and gas consumption, water management is often overlooked.

How to choose an energy consultancy

Fri 13th, Mar

Most business owners recognise the advantages of shopping around for the best energy deal, but without the time, resource and expertise to find the best tariff, it can be an almost impossible task.

Business energy: Don’t get caught out by rollover rates

Fri 13th, Mar

As a busy business owner, you may feel there are not enough hours in the day to secure your next energy contract. You know you’ll get around to it, but when you’ll get around to it is another matter.

Business water matters – Top 3 water saving tips

Fri 13th, Mar

Water is often referred to as ‘the forgotten utility’. While many large businesses are clearly focussed on their comprehensive energy strategies, it seems many are yet to implement a strategy around managing their water usage.

Know where your cloud data is stored or risk a GDPR fine

Thu 27th, Feb

For businesses who have chosen cloud-based data hosting services there’s a temptation to relax and think “great, we’re paying someone else to take care of our data, we don’t need to worry about it any more.”

Transparency plans could slow down region’s business growth

Thu 27th, Feb

Efforts by regional start-up initiatives that have led to Merseyside outperforming the rest of the UK when it comes to business growth could be hampered by new government proposals, a leading legal expert has claimed.

Backup or risk losing your business

Thu 13th, Feb

Maintaining a robust backup is hard work, it’s important to not only build the correct solution for your business and trust your IT support provider to look after it, but to also maintain a sense of urgency as a business owner to...