A study of more than 1,000 senior managers, for think tank The Tenon Forum, found that one in 20 had already made plans to move abroad in search of a `friendlier' legislative and economic climate. One in four is thinking about leaving the country over the next three years.
More than half said they believed fewer firms would start up over the coming year, mainly because of `unfavourable' business legislation in the UK.
Complaints included the level of corporation tax and capital gains tax, as well as increasing employee rights, said the report.
Another cause for dissatisfaction is income shifting legislation, due to be introduced next year to prevent people moving part of their income to another person who is subject to a lower tax rate. This is likely to affect those running family businesses in particular.
Four out of 10 respondents said legislation was making them less inclined to take risks.
Martin Kirby, managing director for Tenon in the north west, said: "The government must heed this call for help in order to avoid losing some of the country's most talented business people.
"The Chancellor's indecision over capital gains tax last year, and the ongoing uncertainty around income shifting legislation, have served only to place entrepreneurs in a state of limbo."
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Esso Blue, Oil incorporated, Manchester (08/10/2008 at 20:44)
bambi (09/10/2008 at 00:10)
Chinook, Manchester (09/10/2008 at 00:18)
Kinkys boots (09/10/2008 at 10:20)
citycentre, manchester (09/10/2008 at 10:22)
i guess entrepreneurs dont mind killing some of their staff so long as profits stay high
Jay B, oldham (09/10/2008 at 10:52)
all we have at the moment in this country is the rich robbing the poor!
and the poor being robbed by the lazy!
all we're expected to do is work to pay tax. not to live anymore!
Henry Piggot-Smythe, Prestbury (09/10/2008 at 11:21)
Second Row Lump, Manchester (09/10/2008 at 12:22)
My friend has relocated his 'software engineering' business to Budapest. Cheap office rentals, keener workforce who cost him less, good transport links and the government there is encouraging enterprise.
Why should he pay through the nose to stay in a country where success is penalised, achievement is frowned upon and it’s a cardinal sin to have a few quid?
With his move there are 50 fewer jobs in Manchester, none of his taxes go to the treasury and the businesses he does work for 'globally' taken out of the loop in the UK and redirected to Hungary.
He has done exactly what I would have done in the same situation.
He grafted, employed people, worked hard, brought business in and he was taxed to eye balls, legislated against beyond comprehension and extorted by greedy land lords and business overheads.
Good luck to him!
Mr Manchester (09/10/2008 at 13:21)
Hungary has inflation at 8.5% compared to the UK's 4.7, and a base interest hitting 8% compared to UK 4.5.
Mind you, if he likes goulash he should be in his element.
Second Row Lump, Manchester (09/10/2008 at 14:21)
I didn’t say it was perfect, I know Hungary has issues. However, they offer tax incentives for businesses and very cheap office/commercial property rental. The workforce is plentiful, well educated and harder working according to him.
I was just saying since he relocated his business, he is far better off. Proof in the pudding, his turn over is up and he is making more money despite have the same amount of clients he used to have when his business was located in Manchester.
Like I said, business is about making money, you don’t employ people as a charity and you shouldn’t be criticised by jealous, ‘skint’ socialist types for relocating and moving your business to make more money.
Second Row Lump, Manchester (09/10/2008 at 14:33)
Yes I have friends. Many of them doing well and many of them in other countries funnily enough?
The lazy, socialist, labour voting, public sector types will always moan but you will never keep a good man down (even if it means relocating).
To give you further material to express your jealous feelings and to ‘knock’ others, I also attended a Public School (Malvern), a red brick university and never worked as a teenager because my family was wealthy.
That should be enough personal information for you to carry on with your personal attacks and petty comments if you must.
Mr Manchester (09/10/2008 at 15:03)
Second Row Lump, Manchester (09/10/2008 at 15:38)
Nothing I have done or the schools I have attended are anything in particular. I wanted to provide you with more ammunition to make personal comments, its seems that is what you are best at!
Mr Manchester (09/10/2008 at 16:49)