Bethnal Green self-made millionaire visits Downing Street
PUBLISHED: 12:52 22 August 2011 | UPDATED: 12:52 22 August 2011
A self-made millionaire made a visit to Downing Street to give the government advice on how to encourage more people to set up their own business.
More women-friendly measures in business were top of the priorities for debt management head Jamie Waller, who was born and raised in Bethnal Green.
The ambitious 32-year-old’s own company, the JBW Group, has grown 20 per cent year-on-year since he set it up in 2004.
What started with Mr Waller knocking on doors collecting cash has turned into an enterprise which employs 120 staff.
Mr Waller presented his ideas after being invited to Number 10 by David Cameron’s senior advisor, Steve Hilton.
The ability to claim childcare as a business expense is vital to a strong workforce, he argued.
“Women should not be penalised for returning to work after giving birth,” he said.
“In the USA, women are given tax benefits for returning to work. Recent studies show that a female entrepreneur would need to generate and income of £50,000 per annum to pay for childcare for eight hours a day.
“I put it to Steve Hilton that childcare should be claimable as a business expense and as such tax deductable. He thought this was a great idea and assured me David Cameron would be made aware of it.”
The entrepreneur, who now lives in north London, also believes that procurement – the process of obtaining goods and services – should be simplified.