Spot on article. At this point, I think you should leave the UK if you have a tech business or thinking about raising capital. Either Hong Kong, Singapore, UAE (Dubai) and United States are far better business friendly destinations.
From November onwards, it is going to get alot worse for UK businesses.
For anyone else thinking about building a UK startup today, this is what you will get in return:
> Your friends and family want the best for you. Well, in most cases, as long as you aren’t doing better than them.
This is called "tall poppy syndrome". [0]
> And will steal as much money from your back pocket as they can.
If you are making £125K+ as an employee, you will lose half of it. As a business, that tax rate is only going up and you will lose more money.
Finally, little to no funding or any VCs willing to fund you in the UK.
rvz•4h ago
From November onwards, it is going to get alot worse for UK businesses.
For anyone else thinking about building a UK startup today, this is what you will get in return:
> Your friends and family want the best for you. Well, in most cases, as long as you aren’t doing better than them.
This is called "tall poppy syndrome". [0]
> And will steal as much money from your back pocket as they can.
If you are making £125K+ as an employee, you will lose half of it. As a business, that tax rate is only going up and you will lose more money.
Finally, little to no funding or any VCs willing to fund you in the UK.
[0] https://en.wikipedia.org/wiki/Tall_poppy_syndrome