Leaving the EUThe fact the chancellor hardly mentioned Brexit in the Budget last week spoke volumes. His skirting around the topic simply made the elephant in the room more obvious. We’re currently in a post-Brexit bubble, but once that bubble bursts a hard landing awaits us. A huge concern for businesses is that leaving the EU will consume all available government resources in the coming years. We will have to do what Brexit needs, rather than what the country needs. And the cracks are starting to show with increasing inflation, consumer spending slowing and wages stagnating. The chancellor shouldn’t be penalising budding entrepreneurs by slashing dividend tax breaks to £2,000. Instead, he should be inspiring to boost business confidence and give more people reason to go out and start their own enterprises. Statistics from Inform Direct, using data from Companies House and the Office of National Statistics, revealed the number of UK companies has hit a four million record this year, and the vast majority of these are small and medium-sized businesses. But starting a business is a massive learning curve. You know what you’re doing and why you’ve set the business up, but everything that goes with that, all of the accounting, the property – not to mention the bureaucracy – isn’t something you anticipate will take up as much of your time as it does. Support is critical to ensure these startups last. Especially at a time where foreign hubs like Berlin and Paris are actively poaching UK startups. Whitehall needs to give businesses more of a reason to stay put. Starting and running a business of your own is much like a rollercoaster; filled with tremendous highs and tremendous lows. However, the rush you get is unlike anything in the corporate world. I’d advise anyone who thinks they have it in their heart to get stuck in and get started – despite the challenges that face you. After all, we need more success stories right now.
Jonathan Richards is CEO at breatheHRImage: Shutterstock
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