James Mills is a web developer in the North East of England and founder of Refresh Teesside »
Mike Hughes is the Head of Business for the Evening Gazette. He will be blogging on all matters of importance to Teesside businesses - and some that are just worth knowing »
Jez Davison, business writer at the Evening Gazette, is a regular blogger on all things business - particularly finance, entrepreneurship and the state of the Teesside economy » 
Karen McLauchlan is the Evening Gazette's deputy business and features editor - with special interest in all things industry, property and arts related » 
Jeremy Middleton is a venture capitalist and the co-founder of FTSE-200 company HomeServe » 
Deloitte, which has 23 offices across the UK including Newcastle, is among the country's leading professional services firms » 
ClimateNE & Climate Change Schools Project support the move to a low-carbon, resilient economy and help businesses avoid risk and realise commercial opportunities. Posts by Jen Atkinson, Krista McKinzey and Harriet Thew »
With the Budget looming, my attention has turned to the corporate environment that I believe the Chancellor George Osborne needs to create to help stimulate the North East's economy.
The only sustainable way to have more jobs is if there are more private businesses start-ups which then go on to innovate, invest, and grow. This is particularly important as it will be the private sector that will have to fill the employment gap as public organisations contract and reduce their workforces.
This means we need enterprise to be encouraged, we need finance to be available, we need costs of employment and regulation to be low, we need the taxes on companies and entrepreneurs to encourage not stifle enterprise, and we need good transport links.
I would like to see the re-introduction of an Enterprise Initiative offering those with ambitions to run their own business the chance to receive funds equivalent to their unemployment benefit for up to a year while they establish their commercial venture.
The introduction of Enterprise Zones in certain areas of the North East would act as a catalyst to attract new investment and new companies in to the region.
Such tax free zones would cost the Exchequer very little, but could attract a level of inward investment that could make a real difference to employment, investment and wealth.
I also support expansion of the regional growth fund. This could allow public money to be leveraged with private money to provide seedcorn and expansion capital for private companies. This type of funding can most directly boost job creating businesses....whilst the private risk capital provides reassurance that these investments make commercial sense.
I am convinced that people in region have the talent, initiative and entrepreneurism to deliver a private sector-led revival and that this can be achieved with targeted Government support.
- Post to:
del.icio.us
Digg
Newsvine
Nowpublic
Reddit
« Previous | Home | Next »