Majority of UK Entrepreneurs Regard Government as ‘Anti-Business’, Survey Shows
Sixty-three per cent of high-growth founders say Labour’s administration discourages business activity, pointing to tax and policy uncertainty
A new survey of Britain’s scale-up founders has revealed deep unease with government policy, with 63 per cent describing the administration as “anti-business.” The poll of around 400 high-growth entrepreneurs conducted by the network Helm found that 95 per cent also believe the state does not reward hard work – a stark indication of founder sentiment as the government pursues its growth agenda.
The sense of frustration runs particularly deep among businesses that generate substantial economic value: Helm’s membership comprises firms collectively producing more than eight billion pounds in annual revenue, and average company income among respondents is around twenty-one million pounds.
Helm’s chief executive said members feel “betrayed, ignored and genuinely let down” after the Labour Party came to power.
The results show that none of the respondents say they would vote for Labour at the next election, and only six per cent would consider supporting the Conservative Party; instead, 58 per cent are undecided.
The survey highlighted how investment and hiring decisions have been deferred in anticipation of fiscal announcements – in a prior related survey, three-quarters of respondents had paused recruitment and growth plans pending clarity on tax rates.
Other indicators corroborate the broader sentiment of stagnation: according to the Longitudinal Small Business Survey, the share of firms reporting employment growth has fallen from 32.9 per cent in 2021 to 21.7 per cent in 2024, while sustained growth across four years is achieved by just 14.6 per cent of small and medium-sized enterprises.
Founders cite multiple sources of concern: higher employer national insurance contributions, looming capital gains tax adjustments, and shifting employment regulations all feature prominently.
One founder highlighted that an increase in national insurance reversed hiring plans entirely, saying “once national insurance was set to increase, that goal of hiring flipped around.”
Analysts suggest this business community alarm may signal a deeper structural challenge for the UK economy – even as macro-evidence shows business leaders still expect their own firms to grow.
The contrasting moods point to a resilience in enterprise alongside a lack of confidence in the wider business environment.
As the Budget approaches and the government signals major fiscal decisions ahead, the message from high-growth entrepreneurs appears clear: without greater policy certainty and a more pro-investment stance, the UK risks undermining the very founders who drive innovation and job creation.
The sense of frustration runs particularly deep among businesses that generate substantial economic value: Helm’s membership comprises firms collectively producing more than eight billion pounds in annual revenue, and average company income among respondents is around twenty-one million pounds.
Helm’s chief executive said members feel “betrayed, ignored and genuinely let down” after the Labour Party came to power.
The results show that none of the respondents say they would vote for Labour at the next election, and only six per cent would consider supporting the Conservative Party; instead, 58 per cent are undecided.
The survey highlighted how investment and hiring decisions have been deferred in anticipation of fiscal announcements – in a prior related survey, three-quarters of respondents had paused recruitment and growth plans pending clarity on tax rates.
Other indicators corroborate the broader sentiment of stagnation: according to the Longitudinal Small Business Survey, the share of firms reporting employment growth has fallen from 32.9 per cent in 2021 to 21.7 per cent in 2024, while sustained growth across four years is achieved by just 14.6 per cent of small and medium-sized enterprises.
Founders cite multiple sources of concern: higher employer national insurance contributions, looming capital gains tax adjustments, and shifting employment regulations all feature prominently.
One founder highlighted that an increase in national insurance reversed hiring plans entirely, saying “once national insurance was set to increase, that goal of hiring flipped around.”
Analysts suggest this business community alarm may signal a deeper structural challenge for the UK economy – even as macro-evidence shows business leaders still expect their own firms to grow.
The contrasting moods point to a resilience in enterprise alongside a lack of confidence in the wider business environment.
As the Budget approaches and the government signals major fiscal decisions ahead, the message from high-growth entrepreneurs appears clear: without greater policy certainty and a more pro-investment stance, the UK risks undermining the very founders who drive innovation and job creation.
