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Dragon advises caution before election

Theo Paphitis has warned entrepreneurs to hold off from setting up new companies until after the general election.

The Dragons’ Den panellist said with the country due to go to the polls by the end of May, business owners are currently “in no man’s land” which means they can’t take calculated risks.

Speaking on BBC2’s Working Lunch programme, he said: “Our lovely politicians whether they be Tory or Labour just will not tell us what they’re going to do about the economy.

“If you’ve got to invest millions of pounds in starting or expanding a business and you don’t know whether VAT will go up, interests will go up, quantative easing will be reduced, it might just affect your bottom line or your total survival.

“Entrepreneurs spend their lives taking risks but I like to take calculated risks. When you can’t put the calculated in a risk then that’s a gamble and you don’t want to do that. Take your time.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .