THE FINANCIAL TURBULENCE will inevitably lead to increased regulation, mainly for financial companies. It may have positive effects, but it is important not to let the regulatory impact and influence the entrepreneurial-driven companies. Instead, we must complete the extensive work undertaken within the EU to enhance freedom of choice for businesses.
THE EFFORTS MADE is a step in the right direction, but I believe that more can be done. The political debate often revolves around the need to reduce profit taxes and personal income taxes for entrepreneurs. Our own research at Grant Thornton, which identifies 7 800 privately owned companies in 34 countries to highlight important issues for owner-run businesses. However, it shows that the employment tax is what entrepreneurs consider to be the most burdensome for Sweden. Previous studies show that Swedish entrepreneurs are taking great responsibility for their employees and care about secure jobs. I am convinced that in order to have the desired effect, a greater reduction than one percent in employment tax is needed which was promised by the government.
Source: Target No. 2 2008
- Read the first part of the chronicle "Financial concerns – time to invest”