๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ๐ฌ๐ก๐ข๐ฉ ๐๐ข๐ซ๐ฆ๐ฅ๐ฒ ๐จ๐ง ๐ญ๐ก๐ ๐ฉ๐จ๐ฅ๐ข๐๐ฒ ๐๐ ๐๐ง๐๐
Mark Hart, UK lead for the Global Entrepreneurship Monitor (GEM), provided oral evidence to the BIST Committee’s Inquiry into Entrepreneurship and Business. Drawing on insights from the latest GEM report, he contributed to an important discussion on the UK’s entrepreneurial environment, how it compares internationally, and what more can be done to help businesses start, survive and grow. His evidence focused on the strength of the UK’s entrepreneurial ecosystem and the changes needed to better support entrepreneurs.
Mark opened by saying “๐๐ฆ๐๐ข๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐ฅ๐ข๐ฏ๐ ๐๐ง๐ ๐ฐ๐๐ฅ๐ฅ ๐๐ง๐ ๐ญ๐ก๐ ๐๐ ๐ข๐ฌ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ๐ข๐๐ฅ ๐ข๐ญ ๐ก๐๐ฌ ๐๐๐๐ง ๐ฌ๐ข๐ง๐๐ 1999…๐๐ซ๐ข๐ฏ๐๐ง ๐๐ฒ ๐ญ๐ฐ๐จ ๐ ๐ซ๐จ๐ฎ๐ฉ๐ฌ… ๐ฒ๐จ๐ฎ๐ง๐ ๐ฉ๐๐จ๐ฉ๐ฅ๐ (18โ24-๐ฒ๐๐๐ซ-๐จ๐ฅ๐๐ฌ) ๐๐ง๐ ๐๐๐ฆ๐๐ฅ๐๐ฌ”
Key policy asks included during the session included
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๐๐ฆ๐๐ข๐ญ๐ข๐จ๐ง โ Design support around entrepreneurial ambition, not simply business registrations or headcount growth. Support the journey from sole trader to employer.
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๐๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ-๐ฌ๐ข๐๐ ๐๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง๐ฌ โ Address declining but policy-influenced factors such as access to finance, infrastructure and more coherent support programmes.
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๐๐ฎ๐ซ๐ฏ๐ข๐ฏ๐๐ฅ โ Refocus support on the critical 1-3 year period, combining flexible finance, mentoring and realistic pre-start guidance. Evidence suggests targeted support can improve business survival rates.
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๐๐จ๐ฎ๐ญ๐ก ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ๐ฌ๐ก๐ข๐ฉ โ Create clearer pathways into entrepreneurship, helping convert high levels of entrepreneurial intent among young people into sustainable businesses.
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๐๐ ๐๐๐จ๐ฉ๐ญ๐ข๐จ๐ง โ Ensure AI support reaches ambitious founders of all sizes and helps solo entrepreneurs translate early AI usage into long-term growth.
The evidence is clear: if we want more high-quality businesses, stronger local economies and sustainable growth, policymakers, support organisations, educators, investors and entrepreneurs all have a role to play
“๐๐ญ’๐ฌ ๐ง๐จ๐ญ ๐๐๐จ๐ฎ๐ญ ๐ซ๐๐๐ญ๐ญ๐๐๐ก๐ข๐ง๐ ๐ฉ๐๐จ๐ฉ๐ฅ๐ ๐ญ๐จ ๐ญ๐ก๐ ๐ฐ๐จ๐ซ๐ค๐๐จ๐ซ๐๐ ๐จ๐ซ ๐ญ๐ซ๐๐ข๐ง๐ข๐ง๐ , ๐ข๐ญ’๐ฌ ๐๐๐จ๐ฎ๐ญ ๐๐๐ญ๐ฎ๐๐ฅ๐ฅ๐ฒ ๐ฌ๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ข๐ง๐ ๐ญ๐ก๐๐ฆ ๐จ๐ง ๐ญ๐ก๐๐ข๐ซ ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ๐ข๐๐ฅ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ ๐๐ง๐ ๐ฐ๐ ๐ง๐๐๐ ๐ญ๐จ ๐๐จ ๐ญ๐ก๐๐ญ ๐ฐ๐ข๐ญ๐ก ๐ฉ๐จ๐ฅ๐ข๐๐ฒ ๐ข๐ง๐ญ๐๐ซ๐ฏ๐๐ง๐ญ๐ข๐จ๐ง.”
