Top entrepreneurs demand ‘radical reset’ in new campaign

Britain has long been known as a global powerhouse, with a rich history of innovation, trade, and economic success. However, in recent years, there has been a growing narrative of decline, with concerns about the country’s future prospects. This has prompted a group of top entrepreneurs to speak out and call for a radical political and cultural reset to reverse this trend.

At the launch of a new campaign aimed at improving the investment and trading environment for Britain’s fastest-growing companies, Ovo Energy founder Stephen Fitzpatrick and Founders Factory chair Brent Hoberman were among those who shared their insights and concerns. They highlighted the urgent need for change and the potential consequences if action is not taken.

Fitzpatrick, who has built Ovo Energy into one of the UK’s largest energy suppliers, spoke about the challenges faced by entrepreneurs in the current climate. He emphasized the importance of creating a supportive and conducive environment for businesses to thrive, stating that “the success of our economy depends on the success of our entrepreneurs.”

Hoberman, who co-founded Lastminute.com and is now a leading figure in the UK tech scene, echoed Fitzpatrick’s sentiments, adding that “we need to be bold and ambitious in our approach to creating a thriving business ecosystem.” He also stressed the need for government and business leaders to work together to drive change and foster innovation.

The campaign, titled “Reset Britain,” aims to address the key issues that are hindering the growth and success of British businesses. These include access to finance, skills and talent shortage, and the high costs of doing business in the UK. The campaign has already gained support from other prominent entrepreneurs, including Innocent Drinks co-founder Richard Reed and Lovefilm co-founder Simon Franks.

The group believes that a radical reset is needed to break away from the narrative of decline and create a new narrative of growth and success. This reset will require a collaborative effort from all stakeholders, including government, businesses, and investors.

One of the main areas of focus for the campaign is access to finance. Despite the UK being a global financial hub, many entrepreneurs struggle to secure the funding they need to grow their businesses. This is particularly challenging for startups and small businesses, which often do not have the track record or collateral to secure traditional bank loans. The campaign aims to address this issue by promoting alternative sources of finance, such as venture capital and angel investing, and advocating for policies that make it easier for businesses to access funding.

Another crucial aspect of the reset is addressing the skills and talent shortage in the UK. With the country’s impending exit from the European Union, there are concerns about the impact on the workforce and the ability to attract and retain top talent. The campaign is pushing for policies that support the development of homegrown talent and make it easier for businesses to hire skilled workers from abroad.

The high costs of doing business in the UK are also a significant barrier for entrepreneurs. From business rates to taxes and regulations, the cost of running a business in the UK can be prohibitive, especially for startups and small businesses. The campaign is calling for a review of these costs and advocating for policies that reduce the burden on businesses.

The entrepreneurs behind the campaign believe that a successful reset will require a shift in mindset and culture. They are calling for a more entrepreneurial and risk-taking culture in the UK, where failure is not stigmatized but seen as a learning opportunity. They also emphasize the need for diversity and inclusion in the business world, as it has been proven to drive innovation and success.

The launch of the Reset Britain campaign has sparked a much-needed conversation about the future of British businesses. It has brought together some of the country’s most successful entrepreneurs to drive change and create a more supportive and prosperous environment for businesses to thrive. With their passion, drive, and determination, there is no doubt that they will be successful in their mission to reset Britain and create a new narrative of growth and success.