Top Entrepreneurs Launch Campaign Demanding 'Radical Reset' for UK Economy
Britain is trapped in a damaging narrative of decline that requires immediate political and cultural transformation, according to a powerful coalition of leading entrepreneurs who have launched a major campaign to revitalize the nation's investment and trading environment for fast-growing companies.
Enterprise Britain Issues Urgent Call to Action
Spearheaded by Ovo Energy founder Stephen Fitzpatrick and Founders Factory chair Brent Hoberman, the newly formed Enterprise Britain initiative has issued a clarion call for the country to seize what they describe as a "narrow window of opportunity" for the UK to reclaim its global standing against a backdrop of widespread defeatism.
The group's founding members, who also include Multiverse founder Euan Blair and Lastminute.com grandee Baroness Martha Lane-Fox, have presented a comprehensive package of pro-business reforms designed to arrest the prevailing narrative of decline. Their proposals include reversing the government's National Insurance increases and non-dom tax crackdowns, alongside measures to enhance executive compensation packages.
Polling Reveals Widespread Pessimism
Fresh polling commissioned by the group reveals that approximately 74 percent of British citizens believe the UK's position in the global economy is deteriorating. Members have warned that this finding, combined with recent economic data showing the UK grew just 0.1 percent in the final quarter of the year, underscores what they term "the urgency of the moment."
"We are entrepreneurs, business leaders, and investors who love Britain and are determined to see it succeed," the group declared in a policy paper released on Tuesday. "Our task is urgent. We have a narrow window of opportunity in which Britain can not only regain its place in the world, but shape it."
Comprehensive Policy Recommendations
Among the extensive policy recommendations, the entrepreneurs have urged ministers to streamline talent acquisition by enabling employees to reduce their notice periods to one month and prohibiting non-compete clauses. They have also advocated for measures to stimulate both institutional and individual investment, including tax incentives to encourage pension funds and retail investors to support British firms.
"In the UK, few people benefit from the success of British companies," Fitzpatrick explained to City AM. "And that means, politically, it's difficult to enact policies that would create an environment where businesses would truly thrive."
He emphasized: "We're not arguing for lower corporation tax or looser employment laws. We're talking about policies that would make a significant difference for the companies that will be globally relevant in the next decade."
Addressing Investment Challenges
The movement represents the latest in a series of warnings from the fast-growing private company sector, often referred to as 'scale-ups,' regarding policy and investment landscapes that are stifling growth. Octopus Energy founder Greg Jackson has previously expressed frustration about pension funds' reluctance to support private firms, while urging the London Stock Exchange to demonstrate greater initiative in attracting companies like his tech spin-off Kraken to list in London.
Meanwhile, several prominent entrepreneurs, including Checkout.com founder Guillaume Pousaz, have relocated abroad in response to wealth-targeting tax measures. Revolut's billionaire chief executive Nik Storonsky also moved to the Middle East before reversing his decision last month.
Countering the 'Declinism' Narrative
Fitzpatrick addressed the growing trend of business leaders considering relocation: "There is considerable discussion about people leaving for destinations like Milan, Madrid, and Dubai. This persistent conversation is fostering a sense of declinism that risks becoming self-fulfilling. We aimed to establish a platform for entrepreneurs, business leaders, and investors to champion Britain and help the nation restore its confidence."
The Enterprise Britain campaign emerges as a coordinated effort to shift both policy and perception, positioning entrepreneurial leadership as essential to reversing economic stagnation and rebuilding Britain's competitive edge on the global stage.
