Britain is now 'open for business' according to chancellor George Osborne, and the measures he unveiled in his emergency Budget on 22 June were clearly intended to give a much-needed shot in the arm to companies of all sizes.rnBoth the large and the small companies tax rates will be cut (to 24% by 2014 for companies with profits above ￡300,000 and to 20% from 2011 for those with profits below), the entrepreneur's relief rate of 10% on the first ￡2m of gains will be extended to ￡5m and a scheme will be launched that provides a national insurance exemption for new businesses outside London, the South East and the eastern region worth up to ￡50,000.
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