Dynamic Business’ Post

**Innovation Under Siege: Is Taxation Dimming Our Entrepreneurial Spirit?** Ever felt like tax time was a thief in the night, stealing your business's potential? 🚀 As a serial entrepreneur who's survived in the trenches, I certainly have. The economic theory of the Laffer Curve keeps replaying in my mind—a point where taxes, instead of boosting public funds, stifle innovation and growth. This isn't a new insight; even Ibn Khaldun flagged it in the 14th century. Fast forward to the 1970s, and Arthur Laffer formalised it. Yet, here we are, facing the Autumn Budget 2024 with employer NICs climbing to 15%. Yes, it might add £25 billion annually to the treasury, but is it worth risking our economic dynamism? A survey by the Institute of Directors shows two-thirds of businesses fear these hikes could throttle growth. Meanwhile, UKHospitality warns that employing someone full-time could cost £2,526 more annually by 2025—a daunting prospect for small businesses. The Laffer Curve isn't just an academic doodle. It's a real-world concept I've seen unfold in my ventures. Our tax system IMO should bolster innovation, not bottleneck it. The UK thrives on its vibrant entrepreneurial spirit. Are we doing enough to sustain it, or have we edged past Laffer's tipping point? What’s your take—can we keep the entrepreneurial fire burning in the face of rising taxes? 🔍

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up @Responsible hoping to see on 30 October?   Our EY Northern Ireland Tax team spoke with @Mark Dowds, Founder and CEO to find out his thoughts.   “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation”   “It is crucial that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.”   For more, register for our UK Budget webcast on 31 October here: EY | Autumn Budget and please reach out to our NI Tax team for support.   Navigate Autumn Budget 2024 with EY NI. @Ian Edwards, @Neville Crowe, @Brendan McSparran, @Shannon Cunningham, @Jennifer Gill, @Michael McNeill, @Matthew Harrison, @Karen Martin, @Jessica Barnes, @Patrick Duggan   #EYNI #AutumnBudget2024 #UKBudget

Exciting news for entrepreneurs. The latest Budget 2024 announcement brings a much-anticipated tax break for business owners planning to sell. This change aims to ensure that entrepreneurs can truly "benefit from the fruits of their hard work while facing lower tax burdens." A fantastic step forward in recognizing and rewarding the efforts and risks taken by business creators. For more details, check out the full article here: #manufacturingindustry #canadabusiness

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up RESPONSIBLE hoping to see on 30 October?   Our EY Northern Ireland Tax team spoke with @Mark Dowds, Founder and CEO to find out his thoughts.   “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation”   “It is crucial that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.”   For more, register for our UK Budget webcast on 31 October here: EY | Autumn Budget and please reach out to our NI Tax team for support.   Navigate Autumn Budget 2024 with EY NI. Ian Edwards, Neville Crowe, Brendan McSparran, Shannon Cunningham, Jennifer Gill, @Michael McNeill, Matthew Harrison, Karen Martin, Jessica Barnes, @Patrick Duggan   #EYNI #AutumnBudget2024 #UKBudget

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up Responsible, hoping to see on 30 October? Our EY Northern Ireland Tax team spoke with Mark Dowds, Founder and CEO to find out his thoughts. “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation” “It is important that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.” For more, register for our UK Budget webcast on 31 October here: https://lnkd.in/gE3qpTaG and please reach out to our NI Tax teams for support. Navigate Autumn Budget 2024 with EY NI. #EYNI #AutumnBudget2024 #UKBudget

Small Businesses want a clamp down on poor payment practices. Labour to unveil entrepreneur-friendly policies for small businesses. Politics, markets, insolvencies and more business news that we thought would interest our members. https://lnkd.in/e5rFFpTn #businessNews #creditmanagement #finance #smallbusiness #latepayment #insolvencies #economy

Small Businesses want a clamp down on poor payment practices. Labour to unveil entrepreneur-friendly policies for small businesses. Politics, markets, insolvencies and more business news that we thought would interest our members. https://lnkd.in/eXW4dVvu #businessNews #creditmanagement #finance #smallbusiness #latepayment #insolvencies #economy

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up Responsible, hoping to see on 30 October? Our EY Northern Ireland Tax team spoke with Mark Dowds, Founder and CEO to find out his thoughts. “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation” “It is important that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.” For more, register for our UK Budget webcast on 31 October here: https://lnkd.in/ebiewUfC and please reach out to our NI Tax teams for support. Navigate Autumn Budget 2024 with EY NI. #EYNI #AutumnBudget2024 #UKBudget

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up Responsible, hoping to see on 30 October? Our EY Northern Ireland Tax team spoke with Mark Dowds, Founder and CEO to find out his thoughts. “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation” “It is important that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.” For more, register for our UK Budget webcast on 31 October here: https://lnkd.in/eY6JbZbt and please reach out to our NI Tax teams for support. Navigate Autumn Budget 2024 with EY NI. #EYNI #AutumnBudget2024 #UKBudget

UK Autumn Budget 2024: What is serial Entrepreneur, Investor and Founder of Belfast-based fashion Re-commerce start-up RESPONSIBLE, hoping to see on 30 October? Our EY Northern Ireland Tax team spoke with Mark Dowds, Founder and CEO to find out his thoughts. “Ultimately as a wealth creator and serial entrepreneur, if capital gains tax was increased to something within the range of 33-39% it would make me question my desire to stay within the UK. I would imagine many other entrepreneurs may be similarly concerned if growth, innovation and risk-taking were to be stifled by burdensome taxation” “It is important that we ensure the UK remains a competitive place to do business. Investors and Entrepreneurs are an essential part of our economy, and I would urge the Chancellor to consider the impact of losing some of our greatest entrepreneurs to more favourable locations abroad.” For more, register for our UK Budget webcast on 31 October here: https://lnkd.in/etudB5YZ and please reach out to our NI Tax teams for support. Ian Edwards, Neville Crowe, Brendan McSparran, Shannon Cunningham, Jennifer Gill, Michael McNeill, Matthew Harrison, Karen Martin, Jessica Barnes, Patrick Duggan Navigate Autumn Budget 2024 with EY NI. #EYNI #AutumnBudget2024 #UKBudget