To those outside the entrepreneurial ecosystem, the fact that more than half of the UK’s fastest-growing businesses have a foreign-born founder often comes as a surprise.
This outsized contribution certainly surprised me when I first dipped my toe in the entrepreneurial waters while interviewing entrepreneurs at City A.M. Not that it was a ‘fact’ back then. To put a number on the phenomenon, we had to team up with one of our longest-serving Advisers, Beauhurst’s Henry Whorwood. Combining their proprietary fundraising data with Eamonn Ives’ methodical desk research meant that this week, in partnership with Kingsley Napley, we were able to reveal in Job Creators 2025 that 54% of the UK’s fastest-growing businesses have at least one founder – and often multiple – who was born overseas.
Among the 219 founders behind this year’s fastest-growing companies, 42% came from abroad – remarkable given immigrants make up less than half that in the population at large. Of the 54 immigrant-founded firms, almost half were created entirely by foreign-born teams, while the rest were built by mixed founding teams. This shows how international founders typically complement, rather than compete with, domestic talent. Put simply, this cohort of immigrant founders is more than twice as entrepreneurial as their population share would predict.
There are plenty of theories for why immigrants are more entrepreneurial – from immigration self-selecting for risk-takers, to blocked mobility in traditional labour markets, to the fact that immigrants are more likely to cluster in cities where agglomeration effects are strongest. Whatever the mix, the UK has clearly tapped into an extraordinary resource that we must protect.
The case studies in the report reveal the kind of frontier-level innovation immigrant founders bring to Britain. Teru Adachi is building cyber-intelligence tools that expose hidden threats in global supply chains. Dimitri Masin is developing AI systems for high-stakes financial environments. Kevin Lester is revolutionising how financial institutions manage risk. And in the NHS, Jing Ouyang is reinventing hospital workforce planning with technology that frees up time and improves care.
To get more Terus, Dimitris, Kevins and Jings, we set out several straightforward tweaks that could be made to the immigration system: 1) reforming the Global Talent visa so it welcomes world-class operators and experienced tech executives; 2) making the Innovator Founder visa functional by trusting endorsers and aligning settlement criteria with real startup timelines; 3) creating a selective Spinout visa for graduates and academics linked to high-quality incubators; and 4) reducing the cost and admin burden on early-stage firms by freezing fees and allowing staggered payments.
The numbers involved – whether in people or cost to the Exchequer – are tiny. But if we attract more incredible entrepreneurs as a result, the returns to the country would be enormous.
Of course, visas aren’t the whole story. One thing I’ve learned from talking with Britain’s most ambitious founders – including many on this list who have raised millions – is that they’re acutely aware of incentives and disincentives. Unlike some ministers I’ve met over the years (who will remain nameless), they all know their EIS from their EMI, and what other countries are offering. They also, like everyone else, want to feel welcome in the country to which they’re offering up blood, sweat and tears to realise their bold visions.
We know – because you told us so – that more than a quarter of entrepreneurs are considering leaving the UK in the next 12 months. I don’t want to get doomy and gloomy, but a lot hangs in the balance ahead of next week’s Budget. Over to you, Rachel.
Policy Fix
Patron – and friend of The Entrepreneurs Network – Steve Rigby has launched a new podcast: The Policy Fix. His first guest is the inimitable Rupert Soames, Chair of the CBI, and it’s available on Apple, YouTube, Spotify. Do give it a listen.
You Dropped This
Another week, another new Adviser: Peter King, Director of Business Banking at OakNorth. He’ll draw on his experience to highlight how the UK’s “missing middle” of scaleups is underserved, how regulation slows responsive lending, and how better data infrastructure could unlock faster, more flexible finance. As he put it: “The Entrepreneurs Network brings together ambitious business leaders, ecosystem players and advisors so that we all raise our game.”
If you want to join Peter and others in our mission to make the UK the best place in the world to start and grow a business, find out more about becoming an Adviser here.
True to
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