UK Budget Targets Scaleup Gap as Britain Leads Europe on Startup Funding
New tax reliefs and entrepreneur support aim to keep British firms scaling at home, though experts say incentives alone will not close the scaleup gap.
AfroEuropa Newsroom
AfroEuropa desk
The UK government has placed startups and scaleups at the centre of its economic agenda, introducing a package of measures aimed at helping more British companies grow domestically rather than relocating or exiting abroad, Tech.eu reported.
According to the outlet, the latest Budget brought in a new Founders' Relief, widened the Enterprise Management Incentive (EMI) scheme and set out additional backing for young and female entrepreneurs. It also carried further commitments on AI investment, talent and scaleup support.
Chancellor John Healey framed the challenge the measures are meant to address, saying, as quoted by Tech.eu: "Britain does not lack great entrepreneurs. Too often, we invent technologies the world wants here in the UK and see the jobs and profits go somewhere else."
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