NICK Cohen, who runs a company that provides IT support for other firms, gave a positive reaction to a Budget that contained measures that could provide significant help.
Speaking before the Budget, Mr Cohen said the biggest help George Osborne could provide would be to let Glasgow-based pcr hang on to more of the cash it generates to help make the most of the economic recovery.
With the company planning to increase its 12 strong workforce, the young entrepreneur was keen the Chancellor should reduce the costs and risk involved with taking on apprentices.
"Anything that would help us make it easier to bring people into the industry would be welcome," said Mr Cohen who founded the business in 2004, while he was still at school.
After highlighting the value of the £2,000 allowance that firms could set against their Employers National Insurance before the speech, Mr Cohen was delighted that Mr Osborne said the allowance would increase to £3,000 for small firms from April.
Mr Cohen was relaxed about the Chancellor's decision to require all firms to pay staff aged 25 and over a Living Wage of at least £7.20 per hour from April, rising to £9 per hour in 2020.
"I agree with that. We comply with the Living Wage already, it's just about paying people properly," he said.
Mr Cohen welcomed news that the Corporation Tax rate will fall to 19 per cent in 2017, then to 18 per cent in 2020, from 20 per cent currently.
"That will leave more money in our bank account," he noted.
While pcr does not invest heavily in assets that qualify for tax relief under the Annual Investment Allowance programme, Mr Cohen was also pleased the Chancellor decided the relief should be maintained at higher levels than had been anticipated.
Worth £500,000 currently, the allowance will reduce to £200,000 from January 1 rather than £25,000 as planned. This should mean some of pcr's clients have more money than expected and potentially provide a boost to business.
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