Innocent and Charles Tyrwhitt founders urge government to back UK startups
The founders of Innocent Drinks, Charles Tyrwhitt and Justpark have joined a group of leading British entrepreneurs calling on the government to cut employment costs and strengthen support for startups, warning that the UK risks losing its most promising businesses overseas. In an open letter seen by City AM, 13 entrepreneurs urged ministers to expand [...]
In an open letter to the government, co-founders of Innocent Drinks, Charles Tyrwhitt, Justpark, and other prominent British entrepreneurs have urged the UK government to support startups. The letter, seen by City AM, warns that the UK risks losing its most promising businesses overseas due to high employment costs and a lack of startup support.
The 13 signatories called for expanded financial support for young founders, improved enterprise education, and a reduction in the rising cost of hiring staff. They also urged the government to consider ways to lower the costs of employing people, particularly focusing on employers' National Insurance contributions and minimum wage levels.
The letter was released as Global Entrepreneurship Week UK began, bringing together founders, investors, and business leaders to discuss how startups can drive economic growth. While welcoming the government's recent Budget rhetoric on entrepreneurship, the signatories argued that more action is needed to help businesses start, scale, and remain in Britain.
They expressed concern over the anecdotal and empirical evidence of entrepreneurs leaving the UK, stating that the government must stem the tide and ensure these high-growth businesses can flourish in Britain. The signatories highlighted Britain's strengths as an entrepreneurial economy, including 815,000 new companies incorporated last year and its position as the world's third-largest venture capital market.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
