QVentures is asking the Chancellor to increase tax reliefs for the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) by an additional 30% for the next 12 months.

The ask for the next year is:

• EIS tax relief is increased from 30% to 60%
• SEIS tax relief is increased from 50% to 80%
• SEIS maximum per company is raised from £150,000 to £250,000

One key challenge the government faces in the stimulus program is the ability to deploy the funding quickly and judiciously. A fast, effective, and proven solution is to have private investors act as their delivery partners, who risk their own capital and not just public funding. Private/public partnerships have been a cornerstone of growth in the most economically developed countries and in the current crisis, can be a cornerstone to jumpstarting the UK economy.

SME’s are hiring, providing employment opportunities for current workers in the UK and for future workers in the innovation economy. UK tax-paying private investments in early-stage companies will show leadership and confidence in the UK economy while encouraging Foreign Direct Investment, Corporate Venture Capital investment, and stimulating International Trade.

By providing the UK’s most innovative and progressive start-ups with access to long-term capital, EIS and SEIS schemes are hugely beneficial to the UK economy as they create jobs and support the growth of businesses to launch new services and products.

At QVentures, most founders raise capital to allow for an 18 months runway. QVentures believe this will be sufficient for companies to grow through the crises until the UK economy is in a stronger position.

These simple changes will help companies that deserve investment to receive it and create new jobs in a Post-Brexit world.

Please sign the petition so the Prime Minister and Chancellor will listen.