My first thought having looked at today's budget is that the 2 year limit on SEIS (http://www.seis.co.uk/) could leave any SME older than 2 years old (i.e. most of them) dead in the water?a) it exludes most SME but mainly b) it will mean that the value of companies older than 2 years old will fall won't it?
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Yes it certainly will. Some of us have already been in touch with HMRC on this, you can see the response here.
ReplyDeletehttp://www.clearbooks.co.uk/2012/01/11/seed-enterprise-investment-scheme-seis/
We are lucky, our tech is highly exportable so we are seeing strong interest in our ideas from US investors and are looking to fund the business in that direction now.
But it seems to me that SEIS is going to make angel funding nearly impossible for the majority of micro (<10 employees) startups now. Another example of collateral damage from poorly thought out legislation.
Damon.
I'm hearing that HMT are in fact going change some of the criteria. So maybe someone is listening!
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