Digital economy, intellectual property and small business

Baroness Neville-Rolfe talks at Politeia about the importance of the digital economy and intellectual property.

I am very glad to be here today, and my thanks to Politeia for hosting this great event.

Today I am going to be talking about the importance of the digital economy and intellectual property; the government’s commitment to this area; some of our past successes; and the challenges that we face in the future.

The advance of the digital function

Even a few years ago digital matters impacted on most people via the actions of special companies and products, which were quite distinct from most things that they experienced in life. Digital was, as it were, an addition to normal life.

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Further funding confirmed for flood-hit businesses

Businesses caught up in the devastation of Storm Eva will be able to apply for £6 million of government money to get their doors back open to customers.

The Department for Business, Innovation and Skills today (1 January 2015) announced the cash pot available for the estimated 2,500 firms on either side of the Pennines left flooded by the Boxing Day deluge in the north of England.

The £6 million package adds to the £5 million already announced by the government to help businesses in Lancashire and Cumbria affected by Storm Desmond earlier in December.

Small Business Minister Anna Soubry said:

It’s been a devastating Christmas for many business owners in the north of England who now face the challenge of repairing the damage and reopening their doors.

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Guidance for companies on how to qualify for, calculate and claim R&D Relief.

Overview

R&D Relief is a Corporation Tax relief that may reduce your company or organisation’s tax bill.

Alternatively, if your company or organisation is small or medium-sized, you may be able to choose to receive a tax credit instead, by way of a cash sum paid by HM Revenue and Customs (HMRC)

But your company or organisation can only claim R&D Relief if it’s liable for Corporation Tax.

R&D relief schemes

Your company or organisation can only claim R&D Relief if it’s liable for Corporation Tax.

There are 2 schemes for claiming relief, depending on the size of the company or organisation:

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Compact small business guide to property loans

If you’re a homeowner then you’ll know there’s a lot involved when it comes to buying a property. And when buying a business premises for your company everything is likely to be amplified with a bigger building, a higher purchase price and more fees.

Commercial mortgage

Commercial mortgages are long-term loans that allow you to purchase a property and pay back the value to a lender in regular instalments. Aside from the regular commercial mortgage loan, there are an additional four different types of mortgage available to you and your business:

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6 Key steps for START UPS

The 6 key steps to start your own business

Starting a business in the UK can be expensive, time consuming and stressful, with no guarantee that your business will succeed.  By keeping informed and ahead of the business trends, your business has a greater chance of taking off and prospering once started.  Whether you’re looking for information on how to write a business plan or what government grants are available to you, these resources are must-know sites before making any business ventures.

Turn your idea into a business

  1. Start with an Idea
  2. Research your market – identify potential customers. Talk to them and find out if your idea is meeting a real need.
  3. Develop and plan – test your product or service with real customers, make changes, and test it again. Keep doing this until you’re sure there’s a demand for it.
  4. Find partners and suppliers – think about who you’re going to work with to develop and sell your idea.
  5. Set up your business – work out which legal structure is right for you, and register for tax.
  6. Get funding – explore different sources of business finance, from bank loans to government-backed schemes.

Contact the business support helpline in your area for help and advice on starting or growing your business

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