“Entrepreneurs Revolt: 9 in 10 Say Government Clueless — One in Five Ready to Quit UK”

Nearly 9 in 10 entrepreneurs think the Government doesn’t understand their needs and a fifth of them want to leave the UK in the next 12 months. How bad does it have to get before the policy makers listen?

The Entrepreneurs Network (TEN) has published the third edition of their Entrepreneurs Survey. The findings show how founders across the UK are feeling about the state of the economy, the degree to which politicians understand their needs, and their plans for the year ahead.

Founders were asked their views on different aspects of the tax system, which is where it gets quite technical but HMRC needs to know. The results from these surveys are shared with Government departments as TEN has the contacts to communicate founders’ unvarnished views directly to the heart of government.

You can click here to read the results in full and see how you compare to your fellow founders. I’m giving you a taster:

On Government and Politics

• 86% of founders disagree that the Government understands the needs of entrepreneurs
• 37% of founders chose ‘None of the above’ when asked which of the main Westminster political parties they trust most to understand entrepreneurs’ needs, followed by the Conservative Party (31%), the Liberal Democrats (10%), Reform UK (8%), and the Labour Party (4%)

On Taxation, Regulation and Incentives

• 89% of founders have a negative view towards the level of taxation in Britain
• 73% of founders have a negative view towards the level of regulation in Britain
• Only 22% of founders think the UK correctly incentivises people to start new businesses, with 68% saying the current incentives are not enough

On Business Conditions

• 76% of founders say it is currently difficult to raise investment
• 63% of founders say it is currently difficult to hire staff
• 55% of founders say it is currently difficult to undertake innovation
• 80% of founders say that life as an entrepreneur has become harder since they started out
• 65% of founders say Britain is an easy place in which to start a business, but only 13% say it is an easy place in which to scale one

On Business Sentiment

• 58% of founders are optimistic about the year ahead for their business, but only 12% are optimistic about the year ahead for the economy as a whole
• 48% of founders would still encourage someone else to start a business of their own
• 21% of founders say they expect to sell their business or their stake in their business in the next year
• 21% of founders say they expect to leave the UK in the next year.

It may not all be negative but unless and until entrepreneurs are confident enough in the state of the economy and that they have the understanding of a Government that has their interests at heart they’re unlikely to invest to achieve the levels of growth the government needs to support the Uk and the public services. Until then unemployment will remain high or grow, young people will continue to struggle to find jobs at levels that will deplete our workforce for the future and having lasting negative impact on the economy for the next decade, and entrepreneurs will look for better places in which to start their ventures. We need to address the issues now and not hide behind the excuse that it’s all too difficult in face of the current geopolitical environment. We have a crisis and it shouldn’t be wasted. We need bold policies with small businesses at their heart and we need them now. And if you don’t understand the needs of small businesses and entrepreneurs you only have yourself to blame because there are 5.6 million of us to ask.

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