Winds of Change
Taking Schumpeter seriously, locating the National Data Library, and how to help us help you
Welcome to Perennial Gale – the new home for our Friday newsletter. Its name isn’t a reference to this weekend’s inclement weather forecast, but a quote from Joseph Schumpeter’s description of capitalism as “the perennial gale of creative destruction.” His observation in 1942 was that capitalism is neither stable nor static, but constantly shaped by innovation, entrepreneurship and change. Entrepreneurs are central to this, driving forward economic progress by disrupting existing systems – what he termed “creative destruction.”
Schumpeter was one of the first economists to take entrepreneurship seriously. It was his work, along with that of many others, which inspired us to start The Entrepreneurs Network over a decade ago. While there were, and still are, lots of people lobbying on behalf of the more static parts of the economy – whether large incumbents or small businesses – there was the need for an organisation focused on ensuring that ambitious entrepreneurs across all sectors of the economy have a voice in Westminster. We are that voice.
The wider movement that we are part of is starting to win the battle of ideas. Just this week, the Prime Minister penned an unequivocal piece for City A.M.:
“To deliver economic growth – the number one mission of this government – we need to unleash the power of the private sector. Entrepreneurs who work day and night to build a business from scratch. Family companies that have passed know-how across the generations. Iconic British companies employing thousands of people across all sectors. Investors who provide the capital and expertise that fuels growth and innovation.”
But winning the battle of ideas is only half the challenge. We also need to see change – and the right sort of change. The Government’s New Approach to Ensure Regulators and Regulation Support Growth has a lot going for it in identifying the complex, duplicative and uncertain state of regulation in Britain. It also correctly highlights the excessive risk aversion from regulators, and the high administrative costs regulations impose on businesses (potentially up to 3-4% of GDP). But action is needed.
To support us in helping the government make that change, we need the support of the thousands of entrepreneurs who read this: first, to tell us what your challenges are; second, to speak directly to policymakers and policy influencers at our events; and third, to continue to back and spread the word about our work and campaigns.
On point one, we will now be asking you every week to tell us what your business challenges are (more on this below). These can be any sort of challenge. If it’s a policy challenge, we’ll pass it on directly to policymakers. If it’s a business challenge, we’ll let you know if we know someone who can help. But even your most practical challenge will still be useful for policymakers. After all, the government is already spending billions on trying – and too often failing – to help with these too.
On point two, we have two upcoming events that might be of interest. On Thursday morning we will be at OakNorth reflecting on the Chancellor’s Spring Statement (request a place here). Your insights will directly inform our reaction. Then, on the morning of 1 April, we will be with Steve Rigby at Blick Rothenberg to discuss the serious matter of the impact of inheritance tax changes on entrepreneurs and family businesses (request a place here). Beyond being one of our Patrons, Steve has become a mega-influencer (for want of a better word) in policy circles. See what three things he thinks can steer the country in the right direction (paywall – The Times) and don’t miss his sterling performance on Sunday with Laura Kuenssberg.
Go Forth
Friend of the Network and Co-Founder of The Data City, Tom Forth, has been busy reading no fewer than 14 things published about the National Data Library (NDL), and has penned a blog on what he finds good, what he finds weak, and what he thinks the NDL should be (and, most importantly, where in the country it should be located). It’s a thorough piece which I recommend to anyone following the NDL’s progress (or seeming lack thereof).
And if you work with data in academia or the private sector and want to make sure the NDL is developed in a way that serves your needs, you can do your part by filling out the survey we’re running together with the Tony Blair Institute.
Words of Advice
For over a decade, we have been the voice for entrepreneurs in Britain – conducting original research, campaigning for change and building an extensive network of ambitious founders, innovators and other key players in the wider entrepreneurial ecosystem.
Drawing on this expertise, we’ve decided to establish The Entrepreneurs Network Advisory to help shape policy landscapes and support businesses navigate complex regulatory environments. This formalises work that we’ve already been doing, including policy consultancy for entrepreneurs, public affairs and stakeholder engagement, polling and focus groups, media advocacy for entrepreneurial impact, and government advisory. Find out more here.
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
Small Business Strategy Roundtable: Overcoming Barriers to Exporting
🗓 Monday, 24 March 2025
🕐 4pm to 5pm
📍 Online
ℹ️ Join The Entrepreneurs Network and the Department for Business and Trade for a virtual roundtable on overcoming barriers to exporting for SMEs
⏩ Find out more
Breakfast Roundtable @OakNorth: Reflecting on the Chancellor’s Spring Statement
🗓 Thursday, 27 March 2025
🕐 8.30am to 10am
📍 Soho, London
ℹ️ The Entrepreneurs Network and OakNorth are hosting a breakfast roundtable to reflect on the Government’s Spring Statement
⏩ Find out more
All Hands on Tech – Dinner with Kanishka Narayan MP
🗓 Thursday, 27 March 2025
🕐 7pm to 9pm
📍 Central London
ℹ️ Kanishka Narayan MP, Mishcon de Reya and The Entrepreneurs Network host a private dinner to discuss the All Hands on Tech campaign and explore opportunities for collaboration
⏩ Find out more
Breakfast Roundtable @Blick Rothenberg: The Impact of Upcoming Inheritance Tax Changes on Entrepreneurs and Family Businesses
🗓 Tuesday, 1 April 2025
🕐 8am to 10am
📍 Great Queen Street, London
ℹ️ Join Blick Rothenberg, The Entrepreneurs Network and Steve Rigby for a discussion on the impact of inheritance tax on entrepreneurs in the City
⏩ Find out more
Future of Work: The University Student to Entrepreneur Pipeline
🗓 Wednesday, 23 April 2025
🕐 4pm to 5pm
📍Online
ℹ️ A virtual exchange between universities, business owners and investors to discuss how best to support the future founders currently in education in the UK
⏩ Find out more
News and Views
The Chancellor met with regulators to unveil a plan of action to slash regulatory burdens on business
In a speech to corporate leaders, the Foreign Secretary said a new Geopolitical Impact Unit will be created to give insights to businesses involved in international trade
Dozens of small internet forums have blocked British users or shut down as new online safety laws come into effect (Paywall – The Telegraph)
The House of Lords Science and Technology Committee wants your thoughts on how to increase investment into British science and technology
techUK launched their Scale-Up Action Plan to drive growth and innovation
Innovative defence firm Anduril is opening a new manufacturing and research site in Britain
“We shouldn’t be afraid to defend the principle of curiosity-driven research, even when its object of inquiry might seem obscure,” argues Stian Westlake
Carolina Lawson highlights the Kafkaesque procurement processes that are freezing out innovative companies from supplying the public sector
More needs to be done to ensure that spinouts from British universities remain here, according to a report from vice-chancellors
Female-led start-ups are increasingly starved of funding, writes Hannah Bernard OBE (Paywall – Financial Times)
Matt Clancy on his lived experience of technological advancement
We published our twenty-fifth instalment of Three Big Ideas
Friends of the Network
FundingHero’s Midlands High Growth Funding Showcase
🗓 Monday, 24 March 2025
🕐 3pm to 8pm
📍The Shard, London
ℹ️ Minerva are hosting FundingHero for their Midlands High Growth Funding Showcase supported by the British Business Bank
⏩ Find out more
Pitch & Protect: The 10k IP Fund
⏰️ Entries close: Wednesday, 30 April 2025
🏆 Prize: An IP package worth £10,000
ℹ️ One startup will win a £10,000 IP prize, which can be used for searching, drafting, and filing a UK patent and trade mark application
⏩ Find out more
Best wishes,
Philip
Philip Salter
Founder
The Entrepreneurs Network