Skip to main content
CLOSE

Charities

Close

Corporate and Commercial

Close

Employment and Immigration

Close

Fraud and Investigations

Close

Individuals

Close

Litigation

Close

Planning, Infrastructure and Regeneration

Close

Public Law

Close

Real Estate

Close

Restructuring and Insolvency

Close

Energy

Close

Entrepreneurs

Close

Private Wealth

Close

Real Estate

Close

Tech and Innovation

Close

Transport and Infrastructure

Close
Home / News and Insights / Insights / Scale-up Britain – uplifting innovators

Business Secretary Grant Shapps has outlined his vision for ‘Scale-up Britain’ in a keynote speech to business leaders at the World Economic Forum in Davos.

The speech marks another milestone in the Government’s commitment to economic growth and acknowledges the role of innovation and entrepreneurship in driving the country forward.

Mr Shapps noted that in the last 50 years, roughly half of the UK’s productivity increase has been achieved through innovation, explicitly praising ‘entrepreneurs, disruptors, risk takers and innovators.’ Full details of his ambitious plans to make the UK the scale-up capital of Europe, can be found on the Government’s website.

But what does this mean for entrepreneurs? Although no specific initiatives or policies are mentioned, the speech signals that there could be more opportunities for entrepreneurs looking to take their business to the next level in the medium to long-term.

Further to this, the Business Secretary asserts that the world is on the cusp of a new Industrial Revolution, acknowledging the challenges as well as setting out the advantages for Britain in the global economic race.

‘We [the UK] have never lacked great inventors, clear ideas or promising start-ups. Last year, the UK was ranked among the five most innovative nations on earth by the World Intellectual Property Office, ahead of South Korea, Germany, China and Singapore’.

Amidst calls to think bigger and take strategic risks, Mr Shapps went on to call for the UK to ‘convert start-ups to scale-ups’ stating ‘I want to inspire ‘Scale-up Britain’. Building businesses that don’t just develop in the UK, but stay to grow and mature into world-beaters’.

During his speech, the Secretary of State highlighted that we can learn from the success (and mistakes) of other nations, naming Silicon Valley’s ambition as something to aspire to as the country aims to become a hub for globally recognised tech brands.

In order to help the government to seize these opportunities and promote their growth agenda, the Business Secretary announced the launch of a new Scale-up Summit this year. The summit will aim to amplify the voices of entrepreneurs at the top of their game, allowing ministers to listen to key frontier tech, development and finance figures who have accelerated tech businesses from start-ups to scale-ups around the world with the aim of replicating this success in the UK.

If you have any queries about the topics covered above or are looking to scale-up your business, please visit our webpage to find out more about how the Entrepreneurs team can support you.

Related Articles

Our Offices

London
One Bartholomew Close
London
EC1A 7BL

Cambridge
50/60 Station Road
Cambridge
CB1 2JH

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

 

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

  • Lexcel
  • CYBER ESSENTIALS PLUS

© BDB Pitmans 2023. One Bartholomew Close, London EC1A 7BL - T +44 (0)345 222 9222

Our Services

Charities
Corporate and Commercial
Employment and Immigration
Fraud and Investigations
Individuals
Litigation
Planning, Infrastructure and Regeneration
Public Law
Real Estate
Restructuring and Insolvency

Sectors and Groups

Private Wealth
Real Estate
Transport and Infrastructure