CORE RECOMMENDATIONS
1 INVEST IN OWNERSHIP CAPACITY-BUILDING Westminster should follow precedents set in Scotland and Wales and invest directly in boosting the creation of new EOBs. Independent evaluation shows that Scotland has seen a tenfold return on investment for every £1 devoted to on-the-ground support.
2 TRAILBLAZING REGIONAL PILOT PROJECTS FOCUSED ON RESILIENCE AND SUCCESSION Regional groups and devolved authorities should work with the EO sector to set up pilot schemes focused on driving economic resilience through awareness-raising – particularly among exiting business owners. These projects should also provide hands-on support and attract inward investment to back locally based firms that are looking to transition to EO.
3 A NATIONAL STRATEGY FOR BUSINESS OWNERSHIP In addition to investing in capacity, the government should collaborate with the wider sector to design a dedicated national strategy to establish the best possible business climate in which to foster the growth of EO and mutual firms. Led by a specific minister, this strategy would include a UK-wide data project to benchmark and track the growing value of the ownership dividend, and to devise further improvements to the tax regime.
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