Brent Hoberman: We need a ‘British dream’ – and more talented immigrants
The UK needs to welcome many more business founders from abroad to rejuvenate the economy, one of Britain’s best-known entrepreneurs has said, as he issued a rallying cry to renew faith in the future of the country.
In a wide-ranging speech at the City PM Awards ceremony at the Guildhall last night, Brent Hoberman, who gained notoriety as the co-founder of Lastminute.com, called on the government to set up “growth visas” to attract more wealthy investors to the UK and allow employees to reduce their notice periods to stem the “exodus” of talent abroad.
“The immigration debate is heated. But anyone serious about wealth creation has to be honest — pulling up the drawbridge is economically insane,” Hoberman told an audience of more than 500 City grandees and chief executives.
“Over half of the UK’s fastest-growing companies were founded by immigrants. We need more ambitious founders coming to the UK, not fewer.
“So let’s not bow to the tabloid pressure on non-doms, let’s try harder to get the most successful people to come here.”
Hoberman, who set up Enterprise Britain, a network of entrepreneurs so want to build a better future for the UK, called on London’s media – including incoming BBC director general Matt Brittin – to take a more pro-business narrative and counter the perception that ambition “is a dirty word.”
“People assume that if you’re a successful founder or investor, it’s only a matter of time before you’re on a plane to the US or Milan,” he said.
“A narrative of decline has gripped this country. Optimism about the economy is lower than during the Winter of Discontent. Lower than Black Wednesday. Lower even than the global financial crisis.”
Talented youngsters head abroad
Hoberman said all three of his children had left the UK in search of better opportunities across the pond.
“Why? Because of the American Dream. They believe that’s where the energy is. Where, if you hustle, you can make it,” he said.
“I’m happy for them to spread their wings. But I want them to come back. And, for that, we need a British Dream.
“More ambition. More celebration of success. And far less schadenfreude. We basically made it a British word. “We need to create the culture and the infrastructure to help more British start-ups and scale-ups become global champions.
“The opportunities are there to be seized. And we are running out of time.”