David Cameron has put forward plans to incentivise companies to hire long-term unemployed people by reducing their National Insurance payments.
But Singh says while the philosophy is compelling, “if I looked deeper into it from a small business perspective, I think the stars have to line up for them to take benefit from this”.
He says: “I can totally see how this would work for large organisations: they might be more likely to hire but their needs might not be so urgent that they can’t wait for someone who has been unemployed for at least three months who matches the skill set they require to come along.
"They would also have the scale so that the benefits are significant and tangible. For isango!, this minor benefit with all these strings attached doesn’t make sense for us at all.”
Singh believes a National Insurance holiday would be more beneficial: “That would mean I could pay for six more people for six months. I wouldn’t have to make redundancies now.”