Half Of UK's Fastest-Growing Businesses Have A Foreign-Born Founder

A report from The Entrepreneurs Network calls on the UK Government to reform our visa system and retain our status as a leading destination for entrepreneurial talent. 

Using analysis of SyndicateRoom’s Top 100 list, which identifies those companies who have seen the largest increase in value over the last three years, we find that while just 14 per cent of UK residents are foreign-born, 49 per cent of our fastest-growing businesses have at least one foreign-born co-founder.

While just 14% of UK residents are foreign-born, 49% of the UK’s fastest-growing startups have at least one foreign-born co-founder.

The Entrepreneurs Network

The Top 100 list includes seven unicorns (startups with a valuation of $1bn or more), of which five have at least one immigrant co-founder, including Monzo and Deliveroo.

More broadly, the report finds that nine of the UK’s fourteen startup unicorns have at least one immigrant co-founder, including TransferWise and OakNorth. The fast-growing companies co-founded by immigrants in the Top 100 have attracted a combined £3.7bn in investment.

The immigrant co-founders of the UK’s fastest-growing businesses come from 29 different countries. While 38 per cent of the UK’s foreign-born population was born in an EU country, 42 per cent of the immigrant co-founders of Britain’s fastest-growing companies are EU-born.

The immigrant co-founders of the UK’s fastest growing businesses come from 29 different countries

The Entrepreneurs Network

We find foreign-born founders are making an invaluable contribution to job and wealth creation. While just 14 per cent of UK residents are foreign-born, 49 per cent of our fastest-growing businesses have

Keep reading this article on Forbes Small Business.

Leave a Reply