Castore founder Tom Beahon has urged the government to back Britain’s risk-takers through incentives and a supportive environment. Beahon, who co-founded the Manchester-based sportswear company with Phil in 2016, has worked to raise it into an international name.
The entrepreneur warned that the UK risks falling further behind its international competitors unless changes are made, starting with Chancellor John Healey’s Budget on October 28. He made the comments in a LinkedIn post, where he said Castore is proof that entrepreneurial businesses can thrive in Britain.
The UK has structural advantages, including thriving venture capital markets, world-class education, and globally recognized language and legal systems, that cannot be easily replicated by other countries. However, Beahon noted that growth does not happen by accident and requires ambition, skill, and long-term commitment from founders.
He emphasized that without commitment to long-term investment and innovation from entrepreneurs, jobs, living standards, and society as a whole will suffer. Beahon added that the UK’s right to win in the global economy is slowly diminishing, and the country’s collective ambition is waning.
Beahon called on the government to demonstrate its understanding of entrepreneurs and take real action to support the UK’s risk-takers. He said policies are important, but so is sentiment, and the government has a chance to reset its relationship with business. Beahon warned that not taking action will lead to a steady decline and the loss of talented young people who are choosing to leave the UK to build their businesses and careers overseas.
Castore has continued its expansion through acquisitions, recently acquiring British footwear brand Grenson Shoes and INEOS-owned heritage fashion house Belstaff. Beahon’s comments come as the UK prepares for the upcoming budget, where the government will have the opportunity to address the concerns of entrepreneurs and support the country’s risk-takers.
According to Beahon, Britain can continue to punch above its weight on the global stage and be an attractive home for global talent, but this will not happen on its own. He emphasized that the need for real action is increasing every day, and the government must take steps to support entrepreneurs and encourage them to stay in the UK.
The UK’s upcoming budget provides an opportunity for the government to demonstrate its commitment to supporting entrepreneurs. Chancellor John Healey’s Budget on October 28 will be closely watched by business leaders and entrepreneurs, who are eager to see what measures the government will take to support them.
