// REMOVING THE BARRIERS: THE BUDGET AND BIS GROWTH PLAN >

rent nationalities /> ions for mobile devices:/

at 200 per cent and rising to 225 per cent by April 2012, and the lowering of corporation tax. These are very powerful tools for international entrepreneurs. “We’re also showcasing the area as

an investment destination for venture capitalists by telling investors about its advantages, how businesses here have a high chance of succeeding, and highlighting the improvements in tax relief for investments into EIS-qualifying companies and funds. “Our fourth goal is to attract the huge

amount of talent and skills that’s needed – executives and expertise,” continues Van der Kleij. “In May, we launched the Tech City Mentorship Programme, to match experienced, competent entrepreneurs and business leaders with start-ups. My own company, Adeptra, enjoyed greater success after taking on a mentor – it was a privilege for me to learn more from him, and was a major factor in the growth of the business.” Tech City’s Mentorship Programme

is headed by Kevin Eyres, outgoing managing director of LinkedIn Europe, and an angel investor who is on the TCIO’s advisory team. The programme also leverages the connections of Catalyst UK, a new global network of business leaders set up to champion the UK as a leading international business partner. UK TraTraderade & Investment launched the init ative n March with 100 high-profi le me but intends to increas to 500 within two yearsars..

itiiative i in fi le members, se that s, “The growth of the cluster of young

creative media companies around Shoreditch happened very naturally, without any government support,” stresses Van der Kleij. “Our role now is to identify the gaps and make sure the community is sustainable, but also to know when to step out of the way because it’s working well as it is. “It’s about helping Tech City fl ow into one of the most accessible parts of London, with nine railway lines and one of the most connected broadband spaces. The Olympic Park area will become very attractive when linked to Tech City. It’s an opportunity to capitalise on the £9

on the £9bn of the wholle

Olympicics. The tm tiiming is very th

of public nve tme t in th ght and

e of the the UK wiill benefi t. ll benefi t.”

t and e

lic i investment in the ry riig

In November, as part of the Budget, Chancellor George Osborne introduced a review of the Government’s initiatives to remove barriers to investment in its Plan for Growth. Through this, the Department for Business, Innovation & Skills (BIS) aims to stimulate private enterprise and achieve sustainable and balanced growth. Its objectives are to: > Create one of the lowest corporate tax rates in the G7 (reduced to 26 per cent in April 2011 and to 23 per cent by 2014), making the UK the most attractive location to set up a European HQ; > Make the UK one of the best places in Europe to start, fi nance and grow a business, with a lower domestic regulatory burden (and exemption for three years for fi rms with fewer than 10 employees), more fi nance for start- ups and expansion, and reforms to the planning system; > Encourage investments and exports, with initiatives to support the UK as a top destination for overseas investment, with increased exports to key target markets, higher private-sector employment, especially outside London and the southeast, and investment in low-carbon technologies; > Create a more educated workforce, and make it the most fl exible in Europe, with a £180m package for 50,000 additional apprenticeships, 80,000 more work placements for young people, and a capital investment of £100m in science funding for 24 university technical colleges. Other measures include: > One year extension of business-rate relief holiday for small fi rms; > 21 Enterprise Zones, with tax breaks, simplifi ed planning and superfast broadband; > UK Trade & Investment to deliver an enhanced bespoke service to investors. from overseas.

To fi nd out more about Tech City, visit www.techcityuk.com