Sir Richard Branson has called for increased support for British entrepreneurs, stating that the UK must give every founder the best chance to flourish. He expressed a desire for future global companies, akin to Virgin, Microsoft, and Google, to be built by British innovators.
Branson, who started Virgin more than 50 years ago, highlighted that while there are now many more entrepreneurs in Britain, there is still a fundamental misunderstanding of what an entrepreneur is. He defines them as creative individuals who develop ideas to improve people's lives, believing that success often follows this principle.
New research from Virgin StartUp, Branson's philanthropic organisation, found that a majority of UK founders are worried their projects might not survive the next 12 months. The research also indicated that an even larger majority do not believe Westminster is listening to their concerns.
Branson emphasised the importance of creating an economic environment where innovators can be helped to survive and thrive. He noted that when Virgin StartUp surveyed 1,000 British parents, 85% said they would support their child in starting a business.