The hard truth is that Britain’s entrepreneurs simply don’t innovate | Phillip Inman

Academic studies have found that small business owners are rarely the spur for innovation or increases in productivity.

Big companies with expertise to spare are a better bet or startups that thrive, like arm’s-length subsidiaries, shielded by the umbrella of a university or private equity firm.

Entrepreneurs’ relief costs about 3bn a year, and aims to encourage people to start or join growing companies.

However, he made most of his fortune like so many British businesspeople from property. No doubt most of his proteges will go down the same route. In the budget next month , Jeremy Hunt will laud entrepreneurs, and Labour will do the same. Before they do, a bit of evidence for their cheerleading would be nice..