Tax breaks at the start of a new business' life would be central to the UK economy.
That's according to a new report called Enterprising Voices, produced by the British Library business and IP center.
Featuring in the report former Dragon's Den panelist Dug Richard comments that the government must stop flirting with 'gimmicks' such as the VAT reduction and instead provide a genuine exemption from tax for at least 18 months of a start ups life.
More than Business News reported that a spokesman for the British Library Business and IP Centre, that offering new firms a tax-free period at the start of their lives would offset any damage to the economy through lost tax revenue by encouraging entrepreneurship.
It adds that a fast-track scheme should be created to help firms patent ideas, and that broadband speeds must rise.
The report has been produced to coincide with Global Entrepreneurship Week.
