Michele Wietscher, Director at Newview Windows & Conservatories

British start-ups need more government support

  • 18 Jul 2017

  • Share

Newview Windows and Conservatories Director discusses whether the British government is doing enough to encourage home-grown business success.

It has been discovered that one in five UK start-ups consider establishing a European outpost in the wake of Brexit. 

According to statistics, 99% of all UK businesses are SMEs and generate 54% of the country’s GDP. However, the government continually favours multinationals, possibly encouraging start-ups to move elsewhere.

Silicon Valley Bank found that 1% of UK start-ups have firmly committed to moving their headquarters to Europe and a further 16 per cent are thinking of relocating. 

Michele Wietscher, Director at Newview Windows and Conservatories, explains: “Confidence among the UK start-up business community has taken a hit since Brexit. The wider issues of the election and continued high taxes create an unfortunate cocktail of challenges. Despite this, many businesses are still thriving and succeeding but we do need to look at the issues of supporting entrepreneurs and those that take the risk of setting up a business.”

The survey highlights the difficulty attracting venture capital funding in a post-Brexit Britain and the possibility of running costs for businesses rising. UK venture capital funds received €2.3bn from the European Investment Fund between 2011 and 2015 but it remains unclear if UK businesses will still have access to the EIF after the UK leaves the EU.

Michele continues: “The government needs to make British business funding a priority in Brexit negotiations. They will either need to negotiate to retain access to the EIF or put in alternative plans to make up for a shortfall in funds. Our own plans for export and expansion have been put on hold until Brexit negotiations have been completed.”

Contact:

3 Northbrook Business Park
Northbrook Rd
Worthing
West Sussex
BN14 8PQ

Tel:  01903 244 449

Visit the Newview Windows & Conservatories website

Leave a Reply

More articles

Delta Electronics

Delta's M300 range: compact, advanced and cost-attractive

Delta Electronics has launched the new M300 range of Drives, designed for the most basic to the most advanced applications.

Posted in Articles, Building Industry News, Building Products & Structures, Building Services, Building Systems, Hand Tools, Innovations & New Products, Plant, Equipment and Hire, Posts, Power Tools

  • Share
Screen Shot 2018-02-23 at 12.54.44

A call for collaboration in timber innovation

In the latest issue of ABC&D, Metså Wood looks at further advancing the use of wood in mainstream construction with the sharing of knowledge and innovation.

Posted in Articles, Building Industry News, Building Products & Structures, Building Systems, Features, Timber Buildings and Timber Products

  • Share
IKO

Insulation for Islington cadets from IKO plc

IKO PLC’s ‘Fix that Hut’ scheme has seen Islington & Stoke Newington Sea Cadets centre donated more than 250 square metres of IKO enertherm PIR insulation to them.

Posted in Articles, Building Industry News, Building Products & Structures, Insulation, Posts, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Sustainability & Energy Efficiency

  • Share
unnamed

Aggregate Industries expands Southern operations with acquisition of Kendall Group

Aggregate Industries, a member of the LafargeHolcim Group, has acquired the aggregate and ready-mix concrete manufacturer, the Kendall Group.

Posted in Articles, Building Industry News, Building Regulations & Accreditations

  • Share