If I could teach the world one thing it wouldn’t be to sing in perfect harmony; instead, I would like us all to be more alert to the unintended consequences of our actions. This would apply to many areas of our lives and public policy – everything from charitable giving, prohibitions on drugs and the tax code…
Open Letter to the Next Prime Minister
In our view, there should have been immediate plans to boost British businesses in the manifestos.
The next Government, regardless of its political persuasion, must prioritise support of the millions of start-ups, scale-ups and entrepreneurs around the UK. These are the job creators that will continue to fuel the economy, improve productivity, exploit trade opportunities, increase the Government’s future tax take and pay for the vital education and healthcare that our country needs.
This is why we support a set of actionable policies set out in a detailed report released today, which could be implemented immediately to create a culture of entrepreneurship and boost the prospects of businesses across the UK. These policies would:
- Deliver more targeted business support.
- Encourage young people to gain the necessary skills for entrepreneurship or to find enterprising work opportunities.
- Put digital transformation at the heart of the Government’s agenda to help close our productivity gap.
- Reform the visa system to improve access to talent.
- Simplify tax for the smallest businesses.
- Apply an Innovation Principle to regulation and ‘sandbox’ environment to enable regulation of disruptive technologies without stifling innovation.
- Provide an innovative digital marketplace to drive up SMB procurement.
- Equip small businesses and scale-ups to embrace export opportunities.
These policies are not reliant on the vagaries of Brexit negotiations or major public spending commitments, but will give a clear signal that the UK is the best place to start and grow a business. We call on the next Prime Minister to put them into action.
Signatories
Giles Andrews OBE, Co-founder & CEO, Zopa; Peter, Bance, CEO, Origami Energy; Mairi Bannon, Co-Founder & Director, Strategic Dimensions; Maxine Benson, Founder, Everywoman; Dr Natalie Blakely, Founder, Light Touch Clinic; Lyndsey Britton, Co-founder Tech for Life CIC / Campus; North; Jonathan Brothers, Founder, Switch Accounting; Mark Brownridge, Director General, EISA; Ed Bussey, Founder & CEO, Quill; Glen Calvert, Founder & CEO, Affectv; Zabetta Camilleri, Founder & CEO, Shopological; Matteo Console Camprini, Founder & CEO, MCCGLC; Duncan Cheatle, Founder, Prelude Group & Rise To; James Codling, Co-Founder, VentureFounders; Rachel Coldicutt, CEO, Doteveryone; Alison Cork,Founder and CEO, Alison at Home; Rachael Corson, Founder Afrocenchix; Gareth Davies, Co-Founder & CEO, Adbrain; Nick Day, CEO, Small World FS; Dana Denis-Smith, Founder & CEO, Obelisk Support & First 100 Years; Romilly Dennys, Executive Director, Coadec; Rajeeb Dey MBE, CEO, Learnerbly; Sam Dumitriu, Research Economist, Adam Smith Institute; Steve Folwell, Co-Founder and CEO, LoveSpace; Lance Forman, Managing Director, H. Forman & Son; Jonathan Gan, Founder, Whichit; Gemma Godfrey, Founder & CEO, Moola; Sam Gordon, Co-Founder, Gordon & Eden; Kate Grussing, Founder & Managing Director, Sapphire Partners; Chris Haley, Executive Director, Policy & Research, Nesta; Nick Halstead, CEO & Founder, DataSift; David Holloway, Founder & CEO, Marlin Hawk; Mike Jackson, Founder & CEO, Webstart Bristol; Sophie Jarvis, Head, Female Founders Forum; Simon Johnson, Chairman, Association of British Jewellers; Husayn Kassai, Co-Founder, Onfido; Stephen Kelly, CEO, Sage; Laurence Kemball-Cook, CEO and Founder, Pavegen Systems; Marta Krupińska, Co-Founder, Azimo; Kate Lester, Founder & CEO, Diamond Logistics; Stuart Lucas, Founder & Co-CEO, Asset Match; Jeff Lynn, Chief Executive Officer, Seedrs; Alex MacDonald, Co-Founder & Co-CEO, Velocity; Graeme Malcolm OBE, Founder & CEO, M Squared Lasers; Chris McCullough, Co-Founder, RotaGeek; Fiona McIntosh, Co-Founder & Creative Director, Blow Ltd; Simon McVicker, Director of Policy and External Affairs, IPSE; Ian Merricks, Managing Partner, White Horse Capital LLP; Cyrus Mewawalla, Founder and Managing Director, CM Research; Charlie Mowat, Founder & Managing Director, The Clean Space; David Murray-Hundley, Chairman, E Fundamentals; Guy Myles, Founder, Flying Colours; Michael Nabarro, Co-Founder & CEO, Spektrix; Pierre-Simon Ntiruhungwa, Head, Founders of the Future; Irina Pafomova, Co-Founder, Engelworks; Alastair Paterson, CEO and Co-Founder, Digital Shadows; Stephen Phillips, CEO, ZappiStore; Edward Poland, Co-Founder & COO, Hire Space; Sean Ramsden, CEO, Ramsden International; Modwenna Rees-Mogg, Founder & CEO, AngelNews; Karina Robinson, CEO, Robinson Hambro; Philip Salter, Founder, The Entrepreneurs Network; Alexander Schey, Co-Founder, Vantage Power; Toby Schulz, Co-founder, Vantage Power; Russ Shaw, Founder, Tech London Advocates; Sam Smith, Founder, finnCap; Anna Sofat, Founder, Addidi Wealth; Patrick Stobbs, Co-Founder & COO, Jukedeck; Will Swannell, Co-Founder & CEO, Hire Space; Jeffrey Thomas, Chairman & Co-Founder, UKCloud; Guy Tolhurst, Founder & Managing Director Intelligent Partnership; Michele Trusolino, Co-Founder & COO, Debut; Elizabeth Varley, Founder, TechHub; Ross Williams, Founder and Chairman, Venntro Media Group, Simon Woodroffe OBE, Founder, YO! Sushi, YOTEL & YO! Home
As featured in…
Dear Prime Minister, Please Listen to British Business (City AM)
Before the Vote: Entrepreneurs Outline Their Startup Action Plan for the Next Government(Elite Business)
Give business real support… not fairytale promises, says boss of software firm Sage (Mail on Sunday)
What does the Conservative manifesto mean for UK Tech?
Read Philip Salter’s article in Tech City News this week.
What does the Lib Dem manifesto mean for UK Tech?
Read Philip Salter’s article in Tech City News.
BorrowMyDoggy Founder, Rikke Rosenlund kicks off The Leap 100 Breakfasts
The Entrepreneurs Network’s Sophie Jarvis writes in City AM about the breakfast discussion we had with Rikke.
Better Beliefs
Read our latest e-bulletin here.
Leap 100 Power Breakfast with Richard Hilton, Founder, Gymbox
Title tbc
Leap 100 Power Breakfasts
Leap 100 Power Breakfasts are small, informal affairs. We restrict them to around 18 people – mostly the founders of Leap 100 companies. Our principal guest kicks off with roughly 10 minutes of introductory remarks; a light breakfast is served; and ideas and experiences are exchanged.
Sponsored by Mishcon de Reya
Mishcon de Reya is a law firm with offices in London and New York, offering a wide range of legal services to companies and individuals. The firm acts for businesses, wealth owners and dealmakers to help them make the right choices for their private capital and ventures and then offer the practical support to populate, grow and protect their assets.
Mishcon de Reya is committed to helping nurture UK entrepreneurship. Earlier this year, the firm teamed up with City A.M., The Entrepreneurs Network and The Supper Club to create the Leap 100 list, which offers a window into the working life – and identifies the challenges facing – some of the UK’s most exciting, fast-growing companies.
Mishcon de Reya is an enthusiastic sponsor of the Leap 100 Power Breakfasts: it is vital for entrepreneurs and business leaders – from across the UK – to discuss the current trends and challenges of successful growth.
If you would like to enquire about a place, please contact events@tenentrepreneurs.org.
It’s time for entrepreneurs to get involved in the post-Brexit policy debate
Read Philip Salter’s article in City AM about how he thinks now is the prime time for entrepreneurs to get involved with policy.
Plugging The Gender Funding Gap
The Entrepreneurs Network’s Annabel Denham has written for the Huffington Post about our previous and upcoming Female Founders Forum projects.
Read the full article here.
Too Many Men?
Our recent female founders report is still receiving press coverage. Female founders forum member Debbie Wosskow writes in The Guardian about her plan to change the investment imbalance. And The National has also written about our report.
The 7 Myths Of High Growth Firms
A recent debate article by Ross Brown, Suzanne Mawson and Colin Mason caught my eye. Myth-busting and entrepreneurship policy: the case of high growth firms challenges some common held beliefs about high growth firms…
Read the full article here.
Coverage for Untapped Unicorns
The Entrepreneurs Network’s report on the Untapped Unicorns – the underfunded female entrepreneurs – has received widespread media coverage.
In summary the report showed that there is an evident gender bias against female entrepreneurs receiving funding from capital providers; despite the fact that female-led businesses are less likely to fail. The Entrepreneurs Network’s Annabel Denham comments that this data is frustrating and recommends a change in education, culture and data collecting to combat the evident bias.
Sexism in start-up investment leaves UK businesses male-dominated, The Telegraph
We need to stop sexism in start-up investment, The Guardian
Eight Stats That Show How Britain Fails Its Female Entrepreneurs, Forbes
Unitapped unicorns: It’s time to close the scale-up investment gender gap, City AM
Pelvic floor exercise device maker Elvie receives £6m funding to launch more products, The Telegraph
Mind the funding-gap: Why we need more female founded scale-ups, Forbes
Greater efforts required to fund female-led firms, The Scotsman
The Big Interview: Jackie Waring, founder and chief of Investing Women, The Scotsman
How to tap into government funding for female entrepreneurs, SmallBusiness.co.uk
Call to ‘untap funding’ for female entrepreneurs, BusinessCloud.co.uk
Female entrepreneurs need more access to funding, according to report, WeAreTheCity.com
Lack of investment opportunities sees female startup founders lose out, BusinessAdvice.co.uk
How Britain can drive the growth of female entrepreneurship, Startups.co.uk
Untapped Unicorns: scaling up female entrepreneurship, Barclays
Untapped unicorns in North East England (and how we are helping Shorthand Social
Investment culture remains very much male-dominated The National
Plugging the Gender Funding Gap, The Huffington Post
Local councils fail to support business growth
A report by the Business Census 2017 showed that most businesses feel local council support is getting worse, with 7 out of 10 of businesses feeling let down. The areas that were most unhappy were the East of England and Northern Ireland, whereas London and Scotland were most content with support. Philip Salter, founder of The Entrepreneurs Network, advised that although “this isn’t the time to shake things up, it should be a prod to government at every level that many Local Enterprise Partnerships (LEPs) and Growth Hubs aren’t yet firing on all cylinders.” To boost support from local councils, we should put more money into LEPs and increase Metro Mayors.
Read the full LocalGov article here.
Local government business support has dwindled
The support that local governments give to businesses has weakened this past year, according to a survey by Business Census 2017 Report, with now 70% of businesses unhappy with the help. The survey also found that increasingly businesses are concerned about the global state of politics, although the majority surveyed have not been affected by Brexit so far.
As Philip buy ativan online india Salter of the Entrepreneurs Network put it, “2016 delivered uncertainty by the bucket load. Whatever the medium to long-term impact of Brexit, there can few who doubt that in the short run there will be a bumpy ride. 2017 may be a little more interesting than many would want.”
Read the full article here.
How the landlords aren’t moving fast enough
The latest Proptech roundtable on the transformation of the property market stressed the importance of landlords keeping up with increasingly fast-moving tech companies. Co-working could be one solution, but the roundtable also showed that it’s not just the landlords that are holding businesses back. Internet connectivity, insurance buy ativan online overnightproblems and exorbitant taxes on property development all were raised. Overall, businesses need to work alongside the government and the property market to make the UK an even more attractive setting for new tech companies.
To read the full Tech City News article, clickhere.
We can’t afford to lose the Enterprise Investment Scheme
Lord Howard Flight recently wrote an article for Conservative Home, stressing the importance of continuing the Enterprise Investment Scheme. The EIS offers tax incentives for high risk equity investment in SMEs, and has been crucial to the success of entrepreneurship in Britain over the last decade. Flight references the Entrepreneurs Network’s study – which found that only 25% of MPs knew about EIS – to call on a greater awareness of MPs about the scheme.
To read the full Conservative Home article, click here.
Women are leaders, not female leaders
“In the future, there will be no female leaders. There will just be leaders.”
Given the wave of growth in of women entrepreneurs over the past few years, it seems that Sheryl Sandberg is right. As Annabel Denham shows in a Huffington Post article, the future looks bright for businesswomen, with women-led companies growing at explosive rates as Founders4Schools’s studies show. With the gap narrowing between female and male led companies, female-focused investment platforms such as AllBright are sprouting up and creating new networks and crowdfunding opportunities.
To read the full article, click here.
Barclays report shines the spotlight on British start-ups
A new Barclays report has showed that the UK had a better environment for growth in the months leading up to the referendum than at any other time since 2011, due to access to finance, improved regulation and increased research and innovation. However, as Annabel Denham writes in Huffpost Politics, the environment for British entrepreneurship is still far from perfect.
While skills shortages are holding businesses back, low corporation tax and better regulatory conditions have helped improve conditions for the entrepreneur. Similarly, although the budget could have done more to lift the burden on businesses, pledges to invest in infrastructure and innovation will be a boost. Overall, the report suggests that “the wider picture is mixed” and we must hope that the Spring budget will make this country even more entrepreneur-friendly.
To read the full article, click here.
£400m venture capital boost will help, but we need to support growing firms even more
Chancellor Philip Hammond announced in the Autumn statement his plan to pump £400m of venture capital funds into the British Business Bank, unlocking £1bn of new finance for growing firms. Philip Salter responded in an article for Real Business:
Philip Salter, director of The Entrepreneurs Network, said:
“£400m into venture capital funds through the British Business Bank makes sense in the context of Brexit, given the expected need to transition from the European Investment Fund (EIF) after we leave the European Union.
“But the Spring Budget should be an opportunity to grasp the nettle: unburdening enterprise through cuts to the most destructive taxes and simplifying incentives – like the Enterprise Investment Schemes and Employees Share Schemes – while avoiding the excesses of previous Chancellors.”
To read the full article, click here.
Small Business Taskforce have no easy task
The Telegraph has reported on the creation of the Small Business Taskforce – a group of organisations, including The Entrepreneurs Network, who have come together to champion SMEs in the UK. The Taskforce is key to protecting British businesses as it offers ministers a “sounding board” so they may understand how new regulations will effect businesses before they come into place. The Taskforce was created at a time of great change as Britain gradually prepares to leave the EU and the new government establishes itself, but it offers stability and a voice for millions of workers involved in SMEs around the UK.
The Taskforce’s open letter to ministers outlines the five central issues it wants to tackle:
- A flexible workforce including ensuring EU workers already in the UK have long-term resident rights
- A workable tax regime with small businesses consulted about any proposed changes
- Accessible business support
- International trade for all
- Consultation with small business
Read the full Telegraph article here.