The government has proposed launching a new small business investment scheme as part of a plan to make the UK the "best place in Europe" for business and enterprise.
In a consultation paper published yesterday, the Treasury set out plans for a new stand-alone scheme designed to target seed investment by "business angels" - wealthy individuals investing in start-up firms. Plans to launch the Business Angel Seed Investment Scheme (BASIS) follow changes to Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs) announced in this year's Budget. These included raising the annual EIS investment limit for individuals to £1m from April 2012 and increasing the annual investment limit for qualifying companies to £10m for EIS and VCTs. "The g...
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