With a new UK Government focused firmly on driving economic growth amid a backdrop of high inflation, increasing borrowing costs, and a labour market struggling with uncertainty, it is essential to support the record number of new businesses being created across the UK.

These start-ups are not only playing a critical role in helping to navigate these economic headwinds but are also leading the charge in fostering competitiveness, innovation, and job creation.

Start-ups are bringing new technologies and disruptive business models to market, tapping into emerging sectors and local communities. Yet, despite their growing importance to the economy, there remains a lack of understanding about the characteristics of these businesses and those founders who have identified opportunities and taken the risks to launch new ventures.

In association with Starling Bank, I recently completed a detailed study of new businesses through a survey of 1,176 participants in the 2024 UK Start-up Awards. The awards, which celebrate the best companies under three years old across ten UK nations and regions, provided detailed data on these firms, revealing a dynamic and ambitious group of entrepreneurs who are making an impact in their sectors and local economies.

More importantly, the study offers crucial insights into the UK’s start-up ecosystem by shining a light on the founders, their businesses, the environments in which they operate, and what they need to grow and succeed. This will........

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