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Tax break to help small businesses to grow

Painting and decorating firms may soon be less reliant on bank loans, as a £100m tax break for investing in small and fast growing companies kicks in from April 2012.

Small businesses have been credited with driving growth and creating new jobs during the recession, yet it is often difficult for them to get the cash they need from traditional lenders.

The Government hopes that the introduction of a new tax relief on investments in fast-growing small companies will help to encourage investors to support business with growth potential.

The Chancellor of the Exchequer, George Osborne, who is responsible for the incentive, said: These changes will give a bigger tax break to those who take risks for growth and jobs in Britain by investing in the small companies that have the potential to be fast growing.

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