As part of the Autumn Statement the chancellor confirmed that the venture capital trust (VCT) and enterprise investment scheme (EIS) regimes would be extended to at least 2035.
What are VCT and EIS?
Smaller companies are key drivers of innovation job creation and economic growth. But many are also capital hungry. Development and marketing spend can run into the millions for consumer businesses while product development in sectors like deep-tech and biotech can take years.
Whether it’s a university spin-out or back bedroom start-up taking a small business from initial idea to large profitable employer often requires significant investment. And given the substantial risk associated with investing in smaller companies it’s no surprise many struggle to raise funding.
That’s where the government’s VCT and EIS schemes come in. The two schemes channelled nearly £3.5bn into UK smaller companies in the 2021-22 tax year ...
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