Budget 2017: The sky's the limit for UK scale-ups with a new fund and a bigger EIS limit
Investors have closely watched the outcome of the Patient Capital review, which could potentially unlock huge returns as slow-to-grow businesses are given time and support to mature. Angel CoFund investment director Tim Mills sees the fact that the government has taken consultation from the industry is a positive sign.
“The EIS plays an important role in supporting and encouraging significant amounts of new investment by the angel community. This investmenthas had great effect, especially regionally, where increasing investment in local startups is a priority. The result has been clear: an increase in startups year on year since the recession – with more than 550,000 founded this year alone,” he said. “All the same, the tightening of rules around the use of the EIS is needed to ensure the tax advantaged capital continues to be used in the way it was intended.”
The announcement has come at the right time, Mills added.
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