Unlock cash to boost economy
At a forum with business leaders and enterprise organisations, hosted by Blackburn-based PM+M Chartered Accountants, Mr Newmark spoke of the great heritage of business in Lancashire, and discussed the challenging environment companies currently operate in.
The Seed Enterprise Investment Scheme offers tax incentives to investors who bank roll companies with assets less than £200,000, and the government hopes this will kick-start a SME revival, which have often been seen as the backbone of the economy.
Mr Newmark said: “It was a lively discussion, and it’s clear there is a lot of ambition to support small businesses across the county.
“We see the scheme as highly attractive to would be investors. By allowing them to back small businesses we can tap into the entrepreneurial spirit that exists not only in Lancashire but across the country.
“It is clear there is still some work for us to do on simplifying schemes such as SEIS, and I’ve asked all who attended to keep in touch and highlight any concerns they have with me directly.”
Tony Tinker, general practice partner at PM+M, said: “We were honoured to host a discussion with such a high-level government representative, and it was a great opportunity to bring businesses together and share ideas on how to overcome the barriers many of us and our clients face.”