By a Squeak
What entrepreneurs really think about the government policy
It’s been a big week of media coverage for us, as we launched our inaugural Entrepreneurs Survey. As Eamonn Ives, our Research Director, wrote for City AM:
“Last week, the government announced that serial entrepreneur Alex Depledge would be joining the Treasury as Britain’s first-ever entrepreneurship adviser. New polling from The Entrepreneurs Network suggests that this appointment couldn’t come soon enough. Fully 84 per cent of founders we surveyed do not believe the government understands their needs as entrepreneurs, compared to just four per cent who do. If it’s any consolation to Rachel Reeves and Sir Keir Starmer, founders aren’t exactly wowed by any of Britain’s other political parties – 43 per cent replied ‘none of the above’ when given a choice of which party they trust most to know what they and the startups they lead require.”
So what’s driving the current malaise? In a word: tax.
As I said to Henry Bonsu on Times Radio yesterday in response to the British Chamber of Commerce’s Annual Conference (go to 18:30 to listen), Shevaun Haviland is right to call for “no further tax increases on business in the autumn budget.”
Our survey shows that 84% of entrepreneurs have a negative view of taxation (only 8% positive), and the 1,000 founders who signed our letter against equalising Income Tax and Capital Gains Tax shows this has become a – if not ‘the’ – major gripe for founders.
The other big issue is the Employment Rights Bill, which, combined with the immediate pain of increasing National Insurance Contributions, is driving many to outsource and offshore. We find that in the next 12 months, 12% of founders are looking to sell their business, and when asked why it’s not for reasons you would hope. For the brave, click through to slide 13 of our deck.
But I don’t want to fall into a position of pessimism. While only 19% are optimistic about the next 12 months for the UK economy, 69% of founders surveyed are optimistic about their business. The truth is that the UK is still an incredible place to be an entrepreneur. It’s just that when the pips start squeaking, don’t be surprised if Britain see less entrepreneurship.
A massive thanks to readers who completed the survey. If you want to make sure you don’t miss out next time, sign up here.
Where It's At
On Wednesday, we host our third event of the Young Entrepreneurs Forum. If you are or know a young person who would benefit from this event, please send them here. We will be joined by Sean Kohli, Chair of the Young Entrepreneurs Forum, alongside other invited guests from Silicon Valley.
We aren’t just looking for those who have started a business. We are looking for people who like to build, which could be a technology, charity, fund, campaign or anything entrepreneurial.
If you want a testimonial, take a look at Malindi Mwangi’s LinkedIn post. Off the back of hearing from Chris Hulatt, she found out about their Entrepreneur Awards, and following the nomination of her local MP, Callum Anderson, managed to win.
Match Pointing
Rt Hon Chloe Smith has an interesting piece on how the UK might overcome economic inactivity. She posits that AI-driven job-matching could help, as in Estonia where an AI-powered tool has seen 10-15% more people remain employed than those advised by a human without AI assistance. If you’re working in this space, drop Anastasia an email as she has been talking with Chloe on this topic and it has really piqued our interest.
Breakfast Club
One reason for starting The Entrepreneurs Network is simply because I love spending time around entrepreneurs. It’s telling that our survey found most founders are optimistic about their business, even if they aren’t quite as bullish on the British economy.
That’s why we’re working on a plan to start hosting regular small, private breakfasts with the 10,000 or so entrepreneurs in our network (not all at the same time). For this, we’ll need partners, so drop me an email if you would like to chat about this.
We think these breakfasts would allow us to take an even more regular pulse of what’s holding back founders – feeding into the work we do while strengthening the network of entrepreneurs.
Here to Help
What is holding back your business from growing? If it’s a policy issue, we will let policymakers know. If it’s not, we may be able to put you in touch with someone from our network who can help.
Our Next Events
Young Entrepreneurs Forum – Founder and Investor Mixer @IDEALondon
🗓 Wednesday, 2 July 2025
🕐 6pm to 9pm
📍 Shoreditch
ℹ️ A mixer for Young Entrepreneurs Forum members and invited guests from Silicon Valley
⏩ Request a place
Immigration White Paper Roundtable: What Does It Mean For Businesses?
🗓 Tuesday, 15 July 2025
🕐 4pm to 5.30pm
📍 House of Lords
ℹ️ A roundtable chaired by Lord Bilimoria to discuss the implications of the Government’s Immigration White Paper on businesses.
⏩ Request a place
Quarterly Adviser Roundtable
🗓 Wednesday, 17 September 2025
🕐 10am to 12pm
📍 Canary Wharf
ℹ️ Our quarterly roundtable for Advisers and Patrons of The Entrepreneurs Network
⏩ Request a place
News and Views
Among many more, our Entrepreneurs Survey was covered by City AM, The Telegraph and GB News
The Government’s Modern Industrial Strategy landed this week
A new Global Talent Taskforce and a £54 million fund will be directed at luring world-leading researchers and innovators to Britain
The Government launched the IT Reuse for Good charter. Firms can now register, wipe, refurbish old devices and donate them
After its inspiring first years with Ilan Gur at the helm, ARIA has grown into an engine for moon-shot science and innovation – they are now searching for a new CEO to write the next chapter
“If the UK can’t build out a full semiconductor stack, from design to manufacturing and deployment, it risks being forever the supporting actor in the global technology drama,” – writes our Adviser Rodolfo Rosini for techUK
Google may have to make changes in the UK to give consumers more choice over who they use for online search services
A new The Constitution Society study by John Springford shows Brexit has shaved 4% off UK GDP and forced an extra £40 billion in taxes this Parliament
How to get more young people into employment and self-employment
Three-quarters of founders come from advantaged socioeconomic backgrounds
A new think tank has been launched with a goal to fix Britain (Paywall – The Times)
Friends of the Network
Barclays Entrepreneur Awards
⏰️ Deadline: Monday, 30 June 2025
ℹ️ Celebrating British entrepreneurs who are changing their industries, the economy and society in original and positive ways
⏩ Find out more
Cornwall Slush’D
🗓 Tuesday, 17 September 2025
🕐 9.30am to late
📍 Lighthouse Cinema, Newquay, Cornwall
ℹ️ Supported by SLUSH, Cornwall Slush’D is a tech startup event that brings together founders, investors and the business community for a day of pitches, talks and demos, with opportunities to showcase startups
⏩ Request a place
Founders Associate Vacancy at Upsite️
🧑💻️ Upsite are looking for a Founder’s Associate to join them part-time and work directly with the founding team on strategy, marketing, fundraising, and operations
📍 London-based (hybrid)
🕐 One day per week
⏩ Learn more
Best wishes,
Philip
Philip Salter
Founder
The Entrepreneurs Network