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Promoting and assisting new businesses

In: A Guide to Unemployment Reduction Measures

Author

Listed:
  • Edwin Whiting

    (Manchester Business School)

Abstract

When unemployment in 1976 rose to more than 5 per cent of the labour force, measures were taken by the Labour Government of that time to increase employment opportunities. In 1977 the Small Firms (Advisory) Service was established. In the same year the first sixteen people gathered to attend a New Enterprise Course in Manchester, funded by the then recently formed MSC. In the 1978 Finance Act a valuable concession was given to people starting a new business; income tax which had been previously paid by people on wages and salaries could get up to three years of that tax refunded against any losses made in the first three years of self-employment in a new business (when losses are very likely to happen).

Suggested Citation

  • Edwin Whiting, 1987. "Promoting and assisting new businesses," Palgrave Macmillan Books, in: A Guide to Unemployment Reduction Measures, chapter 23, pages 245-264, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08621-4_23
    DOI: 10.1007/978-1-349-08621-4_23
    as

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