Innocent and Charles Tyrwhitt founders urge government to back UK startups

Thirteen British entrepreneurs, including the founders of Innocent Drinks, Charles Tyrwhitt and JustPark, have urged the government to do more to help startups start, grow and remain in the UK. In an open letter, they welcomed ministers’ recent support for entrepreneurship but warned that rising employment costs and limited help for founders could push promising businesses overseas.

The group called for an expanded Young Entrepreneurs Allowance to help founders meet living costs during their first year, and asked ministers to address the cost of hiring, including employers’ National Insurance contributions and minimum wage levels. The letter comes amid wider concerns about the UK’s business environment: 5,774 British businesses were sold last year, while 815,000 new companies were incorporated. The founders also pointed to the UK’s large venture capital market and its many unicorn businesses as strengths worth building on.