The CBI has welcomed the government’s new StartUp Britain campaign saying it could encourage more people to set up their own business.
The question is, will any umbrella company contractors decide to take the plunge?
The initiative has been backed by companies including Barclays, Google and Virgin Media and will offer new start-ups support worth £1,500 in practices such as online advertising and IT.
The CBI’s head of enterprise and innovation, Dr Tim Bradshaw, commented that StartUp Britain is part of a group of government initiatives to stimulate the UK economy. More people could be encouraged to become entrepreneurs if they receive the necessary guidance and support.
Bradshaw added that the changes to entrepreneurs’ relief and the cut in corporation tax announced in last week’s budget were particularly welcome.
So far more than 60 companies have pledged support worth millions of pounds to the StartUp campaign. AXA is giving 10% off the price of business insurance, Google will provide new businesses with limited free advertising and O2 is offering free line rental for one month.
Other organisations, such as McKinsey & Co, will run programs to encourage innovative graduates to become entrepreneurs.
The coalition wants to start educating children on the benefits of entrepreneurship from an early age. Every English school will receive government support to run a company through the Enterprise Champions Programme. Furthermore, 250,000 youngsters will be loaned £10 so they can enter the Tenner Tycoon competition.
Small firms will also be able to pitch their ideas through an online tool on how they would improve the efficiency of government. The best ideas will be selected by a group of civil servants and the winners will receive intensive mentoring from the UK’s most successful entrepreneurs.
David Cameron said he wants to see a country where entrepreneurs are setting up on every street, in every area of the UK. The recovery has to be led by the private sector and the StartUp Britain campaign is part of the plan to make that happen.
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