The Mini-Budget – why does it present a new opportunity for fundraising?
- On October 19, 2022
- By GrowthInvest Marketing
This article is By Sam Simpson, COO of Founder Catalyst
Although it’s easy to be distracted (and let’s be honest, slightly entertained) by the latest turmoil of Downing Street, it’s important as business founders that we take the time to cut through the politics and focus on the policy.
At FounderCatalyst we’ve been listening with keen interest to how the Government’s recently announced Growth Plan intends to support investment in UK start-ups. And while we’ve seen multiple political U-turns, financial market turmoil and interventions from the Bank of England since the ‘fiscal event’ less than a month ago, there is one new policy from the mini-budget that remains in play. For now, at least.
The new measures announced by Kwasi Kwarteng on 23rd September 2022 include key updates to the Seed Enterprise Investment Scheme (“SEIS”) from April 2023. This means start-up businesses who have already raised £150,000 in SEIS, hit the 2-year trading limit, and are currently under 2.5 years since starting to trade, can still use SEIS.
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