Top Entrepreneur Organisation Welcomes Budget Changes but Says More Needs to be Done to Help SMEs and Entrepreneurs to Drive the Recovery

By The London Entrepreneurial Exchange, PRNE
Tuesday, March 22, 2011

LONDON, March 23, 2011 - The London Entrepreneurial Exchange welcomes the range of
measures in the 2011 Budget to support SMEs and entrepreneurs but argues that
more could be done to ensure this vital group of businesses and individuals
can take the lead in helping to drive the UK's economic recovery.

Chief Executive Shalini Khemka comments:

"There were some excellent measures that will give a boost to
SMEs and entrepreneurs, such as raising EIS relief, reduction in corporation
tax, raising the SME R&D tax credit and the various measures lifting the red
tape burden on small businesses.

But I still think more could have been done. We would have
welcomed some measures specifically lowering corporation taxes for smaller
companies, over and above what was announced for all companies, or lowering
NIC rates for their staff, which would have helped many hard-pressed

Also it's shame that the three-year scheme for new businesses
outside London, the South East and East England, which was announced in last
year's Budget, was not extended nationwide to help spur more start ups."

About The London Entrepreneurial Exchange

The London Entrepreneurial Exchange, established last year, is
a fast-growing organisation for ambitious growth-orientated entrepreneurs.

Honorary President is Sir Richard Branson, the Chairman is
Chris Gorman and the Board includes top entrepreneurs such as Lord Bilimoria
Brent Hoberman (founder , Kanya King (Mobo Group), Alexander
(RnB Ringtones), Luke Johnson (Risk Capital Partners) and Dragon's Den
entrepreneur Duncan Bannatyne.

Contact: Richard Evans; Lucy Grimble/ The Communication Group plc/
Tel: +44(0)207-630-1411

Contact: Richard Evans; Lucy Grimble/ The Communication Group plc/
Tel: +44(0)207-630-1411

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