A 10 Point Plan to Get the UK Moving Again

Here are my 10 points on how to make the UK a world beater when it comes to nurturing small to medium-sized businesses. The ‘penalizing’ of entrepreneurs aged 30 and over for instance when it comes to government funding and the whole ‘information access’ mess out there at the moment.

Here’s 10 points I think need addressed – and quickly:

1. Ban Bankruptcy. Why should entrepreneurs be penalized for daring to go with their vision?

2. Motivate more mentors. Provide tax incentives to those willing to give up their time to coach start-ups.

3. Loosen up Lending. Forget the credit ratings scoring system. Of course entrepreneurs are going to have bad credit ratings. They have a business to run!

4. Axe Ageism. Get lenders and other funding institutions – including the government – to stop making age 30 a cut-off point for start-up grants.

5. Get Global. Give tax breaks to companies which are exporting and trading overseas. Pay experienced exports to teach start-ups how to do it.

6. Rise above Rents. Provide incentives for owners of commercial premises to rent them out at affordable rates to small business owners.

7. Initiate better Information sources. Centralize the mass of information out there for start-ups and cut back on research time that frankly, business owners just don’t have.

8. Target Territories. Get a task force together to work out where location and sector-wise information and help are most needed. Do we need more mentors up north for instance?

9. Garner Graduates. Utilize new graduates skills and knowledge by providing training for them with start-ups – providing a win/win situation.

10. Look to lifestyle businesses. It’s not all about maximizing potential. Lifestyle business owners need help from the government too – otherwise watch the unemployment statistics rise!

Raj Dhonota, RajDhonota.com | Tue 14th Jan 2014 at 11:40