SEED Enterprise Investment Scheme to launch in NI in April

20 Mar 2012

Alan Watts, director, Halo NI (left), and Michael Black, president, Chartered Accountants Ulster Branch

The new SEED Enterprise Investment Scheme (EIS) is aiming to incentivise a new wave of business angel investing, as well as spurring on new start-ups, in Northern Ireland when it comes into force in April.

To explain more about the new tax incentive to both potential angel investors and burgeoning start-ups, the Halo Business Angel Network is teaming up with the Chartered Accountants Ulster Society to host a business briefing on 5 April. Halo itself is funded by InterTradeIreland and Invest Northern Ireland and is operated by Northern Ireland Science Park.

The event will include commentary from Des Ryan of Venture Capital Schemes, HMRC London and Nelson Gray, a former European business angel of the year.

Alan Watts, director, Halo NI, pointed to how the scheme would be an alternative funding stream for start-ups.

“In the current climate, where more traditional forms of funding are all but gone, this is a crucial route for local innovators and entrepreneurs to secure the necessary funding support to take their business plans forward,” said Watts.

Michael Black, president, Chartered Accountants Ulster Branch, said the scheme also offers tax-efficient benefits to individuals while also encouraging private investment in start-ups.

The event will be held at 8am on 5 April in the Chartered Accountants Ulster Society Offices on Linenhall Street in Belfast City.

Carmel Doyle was a long-time reporter with Silicon Republic