Nearly two-thirds of fast-growth business founders believe the Labour government is “anti-business”, according to a new survey from Helm, one of the UK’s largest networks of scale-up entrepreneurs.
In a poll of 400 Helm members, 63% said the government is anti-business, compared with just 23% who disagreed. A further 14% said they were unsure.
Even more striking was the response to whether the government “rewards people for working hard”: 95% said it does not.
The findings highlight growing unease among high-growth founders ahead of the Autumn Budget, amid ongoing concerns about tax rises and the direction of the government’s economic strategy.
Founders feeling “betrayed and ignored”
Helm members — whose companies generate an average £21 million in annual revenue and collectively produce more than £8 billion — expressed deep frustration with the government’s approach to business and growth.
Helm CEO Andreas Adamides said members felt “betrayed, ignored and genuinely let down”.
“These aren’t faceless corporates — they’re founders who’ve risked everything to build businesses, create jobs and drive the economy forward,” he said. “They wanted to believe Labour understood them. Instead, they’ve read endless speculation about punishing tax rises and listened to ministerial rhetoric that dismisses their concerns. The sense of betrayal is palpable.”
Adamides said Chancellor Rachel Reeves “still has a chance to turn this around”, urging her to deliver “a Budget that backs growth, not one that punishes success.”
Investment and hiring frozen until after the Budget
A previous Helm survey in October found that three-quarters of members had frozen investment and hiring plans until after the Budget due to uncertainty over potential tax measures and the broader economic climate.
Labour support collapses among founders
The poll underscores a dramatic shift in political sentiment across the scale-up community:
• 20% of respondents voted Labour at the last election
• 0% now plan to vote Labour
• Only 6% plan to vote Conservative
• 15% plan to vote Reform
• A striking 58% remain undecided
Helm members also showed scepticism about political pledges more broadly: 70% said it is acceptable for a government to break a manifesto promise.
Helm’s membership base contributes more than £1 billion in annual taxes through corporation tax, employer National Insurance and other business levies — meaning the founders’ views provide a significant barometer of sentiment among the UK’s high-growth businesses.