John Glencross: Don't mourn death of asset-backed EIS schemes

UK can be world’s entrepreneurial capital

The US is usually seen as offering the global benchmark for innovation but, as John Glencross illustrates, the UK is now trumping the world's largest economy on several counts.

Some advisers may be mourning the fact the door has now closed on asset-backed Enterprise Investment Schemes (EIS) schemes, even if it should come as no surprise the government withdrew tax relief for low-risk investment. Nevertheless, this is a particularly exciting time for UK growth investing. The US is usually seen as offering the global benchmark for innovation and entrepreneurship, against which all other countries are measured - and usually fail. But the UK is now trumping the US on several counts.  Between 2006 and 2016, the number of new businesses ‘born' in the UK rose by 62...