George Osborne clearly values the contribution that owner-managed businesses make to the UK economy. Owner managers often face difficulties in obtaining funding and hence the UK’s tax regime offers significant tax breaks for equity capital finance, largely through the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs). Even greater investment risk attaches to business start-ups, which has now been recognised in the 2012 Budget. From 6 April 2012, individuals can enjoy some very attractive tax breaks for equity investment in fledgling companies under the Seed Enterprise Investment Scheme (SEIS).