Spring Statement: Time to Unleash Britain’s Entrepreneurs to Unlock Growth, Warns Top CEO
By Business Editor
Britain’s entrepreneurs, not government policy alone, will be the driving force behind economic recovery, according to leading UK business figure Andrew Scott.
As analysis of Chancellor Rachel Reeves’s Spring Statement continues, Scott argues that she has a crucial opportunity to foster an environment where business owners can thrive.
Belfast-born Scott has helped scale more than 1,000 businesses and employs hundreds across his tech, marketing and construction firm, the Ascot Group.
He has personally experienced the challenges of rebuilding after personal financial loss and believes the UK’s economic future depends on unlocking the potential of its entrepreneurs.
“Rachel Reeves and the government say they are committed to growth, but genuine economic expansion does not originate from Whitehall - it is powered by entrepreneurs,” he said.
“Right now, too many business owners are constrained. The problem is not a lack of ideas or ambition, but unnecessary obstacles: fear of risk, a skills shortage and the immense psychological strain of running a business.”
With public spending cuts and financial constraints shaping the economic landscape, Scott contends that confidence, rather than capital alone, will be key to recovery.
“The UK faces more than just an economic challenge - it has a mindset problem. We have become excessively risk-averse, burdened by regulation and hesitant to champion entrepreneurs.
“I have just returned from the United States, China and Eastern Europe, where business owners are actively supported with fewer bureaucratic hurdles, more incentives and stronger educational backing. They are encouraged at every level. If Britain fails to act, we risk being left behind.”
Alongside his entrepreneurial activities, Scott has dedicated his career to supporting fellow business owners through fear and uncertainty.
He warns that policymakers frequently overlook the mental resilience required to succeed in business.
“Entrepreneurs are the backbone of the economy, yet little attention is given to the stress, self-doubt and burnout they endure. If Rachel Reeves genuinely wants to ignite growth, she must cultivate a culture in which business owners feel supported, empowered and mentally resilient.”
Andrew Scott, founder and CEO of the Ascot Group, has built 15+ companies, scaled three start-ups to seven-figure success, generated more £70m in revenue, and built a multi-million property portfolio. See andrewscott.bio
