With the (first) 2015 election now behind us and coalition building at full steam many of us are now turning our attention to what effects the new government will have on our lives. Peace process, Iran, housing and full economic reform we’re the hot topics of the election but now we need to see how promises and pledges will materialize once ministries have been shared out among coalition partners.
As a newbie in the entrepreneurial start up ecosystem in this amazing country that continues to throw eggs in the face of economic logic, I’m personally most interested in how Bibi will help my personal cause. As an oleh from the UK I’m well aware of the incredible changes that’ve taken place to promote entrepreneurship and private investment, unfortunately here in Israel start ups are left to fend for themselves and struggle through the financial stresses of going it alone’.
So in my humble opinion I’d like to put forward the ‘Entrepreneurs Manifesto’ that will allow the already incredible start up nation to release the brakes and accelerate our already amazing successes.
The manifesto I’m suggesting will enable entrepreneurs to move forward with greater confidence of success while incentivizing established enterprises to invest back in the pool of brain tech that’s so abundant and eager to prove.
As a Thatcherite (judge me if you will) I’m a believer in free market economics, in the incentivization of people to become self sufficient and in the simple concept that business creates business.
An economy that allows it’s people to flourish freely, an environment that allows for greater private investment and less government involvement is more likely to succeed, more likely to generate tax revenues and most likely to give birth to the next generation of thinkers and doers as oppose to a nation stuck in the rut of state dependence. Businesses create jobs which in turn create wealth and ultimately higher tax revenues.
So lets foster the already proven potential, lets encourage more self sufficency, lets create a sustainable future for Israeli cooperation, collaboration and creativity.
The Entrepreneurs Manifesto : a 3 point bootstrap plan for success
1. Entrepreneurs: Let’s support the brilliant minds and eager souls as they venture into the roller-coaster ride of entrepreneurship:
1.1 Personal income tax exception for 1 year from company incorporation.
1.2 Corporation tax excemption for 1 year
1.3 Bituach Leumi excemption for recruiting unemployed workers
2. Private Investors: Private investors with capital and desire to invest in start ups
2.1 Tax exemption on capital invested (up to 1m nis)
2.2 Tax deduction for attributable ‘mentoring hours’ to start ups
3. Enterprises: We’re fortunate enough to have a large and varied roster of profitable businesses in Israel, lets encourage & incentivise them to give back
3.1 Tax exemption for investment in local co-working spaces / accelerators / incubators
3.2 Bituach Leumi excemption for recruiting workers from the startup ecosystem
3.3 Tax deduction for attributable ‘mentoring hours’ from workers to start-ups
With the start up nation firmly entrenched in our lives and the consciousness of many around the world, now is the time for the government to provide the tools to continue the journey towards economic stability through private business.