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Sacha Bright, CEO of businessagent.com comments on the latest Budget

Posted 3 years ago

Sacha Bright, CEO of businessagent.com comments on the latest Budget
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CEO of businessagent.com, Sacha Bright shares his thoughts on the budget “Hammond’s budget today will be welcomed by the alternative investment community. More money to the British Business Bank is likely to feed through to the peer-to-peer (P2P) community and changes to EIS and VCT investments are about trying to encourage more direct investing in genuinely entrepreneurial companies which is what crowdfunding is all about."


Advertised Equity Crowdfunding Pitch

Itasca Wines is a Hampshire-based vineyard and winery that produces fine English wines. The company is raising funds for its contract winemaking facility, to fulfil the growing demand from vineyards. There are over 760 vineyards in the UK currently, 111 have their own winery and only a handful of these provide contract winemaking services to other vineyards. Itasca Wines aims to become a major winemaker and create award-winning wines at Penn Croft. The company planted its first vineyard of 16,000 vines in May 2019 and has featured in Vineyard Magazine in February and May 2019.

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He then follows up by saying “It seems clear that the Government is targeting large sums of money invested in tax-vehicles, rather than growth company investment vehicles, with the EIS and VCT changes.  This makes it awkward for some investment managers for whom tax efficient investment in so called ‘safe investments’, where the risk to your capital investment is minimised as much as possible, has been highly profitable. In effect HMRC policing of the types of companies that are eligible for EIS and VCT funds will be stricter and this may put off many current investors who prefer some degree of reassurance from their high risk growth company investment."

 

“But for those investors looking for long term growth in young, entrepreneurial companies the changes should be welcomed. Increased limits could make a big difference and whilst the tap of money from fund managers may temporarily reduce in flow, there appears to be an awareness and support of the role that crowdfunding has to play in funding these companies. All in all we think the news today has been positive for young, growing companies, particularly those in the digital space; direct investment is being encouraged and Government funds are being deployed” said Bright.

 

The largest database of entrepreneurial companies eligible for EIS investment in the UK can be found at www.businessagent.com, the independent, regulated site that brings investors and businesses together and offers them the information they need to make more informed decisions – including free summary ratings of many crowdfunding pitches based on detailed professional research and analysis.

 

If you would like to hear more from Sacha please contact Karen Wagg on 077 255 58 551

Tagged: the budget Hammonds budget Sacha Bright investments investing invest EIS VCT HMRC



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