LONDON, March 23, 2011 /PRNewswire/ -- The London Entrepreneurial Exchange welcomes the range of measures in the 2011 Budget to support SMEs and entrepreneurs but argues that more could be done to ensure this vital group of businesses and individuals can take the lead in helping to drive the UK's economic recovery.
Chief Executive Shalini Khemka comments:
"There were some excellent measures that will give a boost to SMEs and entrepreneurs, such as raising EIS relief, reduction in corporation tax, raising the SME R&D tax credit and the various measures lifting the red tape burden on small businesses.
But I still think more could have been done. We would have welcomed some measures specifically lowering further corporation taxes for smaller companies, over and above what had been previously indicated and what was announced for all companies, or lowering NIC rates for their staff, which would have helped many hard-pressed entrepreneurs.
Also it's shame that the three-year scheme for new businesses outside London, the South East and East England, which was announced in last year's Budget, was not extended nationwide to help spur more start ups."
About The London Entrepreneurial Exchange
The London Entrepreneurial Exchange, established last year, is a fast-growing organisation for ambitious growth-orientated entrepreneurs.
Honorary President is Sir Richard Branson, the Chairman is Chris Gorman OBE and the Board includes top entrepreneurs such as Lord Bilimoria Brent Hoberman (founder lastminute.com) , Kanya King MBE (Mobo Group), Alexander Amosu (RnB Ringtones), Luke Johnson (Risk Capital Partners) and Dragon's Den entrepreneur Duncan Bannatyne.
Contact: Richard Evans; Lucy Grimble/ The Communication Group plc/ Tel: +44(0)207-630-1411
SOURCE The London Entrepreneurial Exchange