It may not happen until next spring, but the prospect of a general election certainly gets entrepreneurs talking. The state of the economy and the current government’s shortcomings and successes on enterprise makes for some interesting discussion. We spoke to some those on the frontline of Britain’s entrepreneurial battle. Here are a handful of their views.
Is the UK a more entrepreneurial since 1997?
Laura Tenison, founder, JoJo Maman Bébé
“There is less fear but I am not sure that is such a good thing. The media has portrayed entrepreneurialism as a way to make millions with ease but the reality is that most self employed individuals are extremely hardworking and manage to survive and make a living but will never be Mr Bannatyne.
Barry Houlihan, chief executive, MIG
“Yes, but this is more to do with a general movement starting in the 80’s towards risk taking in starting businesses as opposed to the attraction of long term secure employment previously. It is doubtful if any real change has happened due to more recent government policy.”
Charlie Mullins, founder, Pimlico Plumbers
“Definitely less entrepreneurial – I believe that true entrepreneurs will always find a way to set up and run profitable businesses, but in the last 12 years I have noticed a concerning change in people’s mentalities from thinking ‘how can I make this idea work?’, to a culture of ‘what’s going to stop me?’.”
What, if anything, has Labour got right?
James Caan, TV Dragon and founder of private equity firm, Hamilton Bradshaw
“The area in which the Labour government has certainly performed well is in the proportion of business start-ups by 16-24 year olds, which rose from 6.5% in 2003 to 8% by 2007. Initiatives such as the Make Your Mark scheme have heightened awareness of entrepreneurial ventures at a younger age. Many of the fan e-mails I receive from Dragons’ Den are from kids under 16!”
David Soskin, co-founder and chief executive of Howzat Media and former chief executive of cheapflights.co.uk
“Nothing. Labour killed stone dead the golden goose they were handed in 1997. Three things they have failed to address are sorting out the education system, the crumbling transport infrastructure and making Britain the European Korea with high-speed internet access for all. The ludicrous Digital Britain report was just another example of headline-grabbing replacing proper policy.”
What’s been most disappointing about Labour’s enterprise policy?
Joel Hagan, chief executive of clean tech firm Onzo.
“The definition of enterprise has been broadened and blurred. Whilst I’m very supportive of social enterprise and what it does for society, I am also fiercely supportive of entrepreneurialism and what it does for the economy.”
James Caan
“Not enough has been done to rectify the regional imbalances of investments and it continues to be a greater challenge starting a business outside of London. Secondly, the productivity gap of British industry in comparison with other counterparts leaves much to be desired. The recession has highlighted this further.
Barry Houlihan
“There never seems to be a coherent, consistent strategy from the top down. The financial services industry was a huge tax cash cow and hence focus for the government until it all went tits up. Now it's manufacturing and technology which is getting the focus.”