Time for A Brighter Britain?

A clarion call for business to lead us to growth 

The old Chinese proverb ‘May you live in interesting times’ feels something of an understatement at present – globally, as well as here in the UK. On the eve of yet another (possible) ‘crunch’ moment for Parliament, many of us feel an overwhelming need to move on and for the country to start the next phase. That obviously includes the business community, where uncertainty has been weighing heavily on morale. 

In truth, the political landscape may remain exceptionally volatile for some time, but that does not necessitate a state of corporate paralysis. The reality is that businesses never have the luxury of ‘certainty’: an important part of the role of business leaders is to adapt, innovate and move with the times. British companies have a long history of seizing opportunity from moments of upheaval and some of the greatest global businesses have been created at difficult times. Virgin Records, for example, was founded in the 1970s recession and reached a valuation of US$1bn when it was sold in 1992. In the US, Microsoft was created at the height of 1970s oil price shock. Many of Britain’s ‘unicorns’ were founded in the aftermath of the financial crisis. Great ideas and companies don’t need specific market conditions to take off. 

But right now, that’s not the narrative; those speaking on behalf of business tend to emphasise the downside and focus almost entirely on Brexit rather than the multiple determinants of our economic future. Their motivation may be to drive what may seem a better result from the Brexit upheavals, but this approach risks losing sight of our many comparative economic strengths. 

Optimism may not guarantee success but it’s a good place to start. Negativity, on the other hand, can create a self-fulfilling spiral of decline, weakening sentiment and resulting investment. There is now a widespread impression that businesses are solely preparing for the worst, yet in our view that is not what is actually happening. We believe that many business leaders are ready to demonstrate their leadership, to explain how they are responding to any challenges and to look beyond Brexit.

We believe that there’s a critical need (whether the political path becomes clearer or not) for business to set out a constructive, non-partisan, non-political vision for Britain.  A positive movement – not blithely optimistic or one that ignores new or long-standing challenges - but instead answers the question:‘what can business do to help put Britain on a path to broader and sustained prosperity?’ It can start by setting out the evidence of the steps already being taken to help secure our economic future with broader, lasting prosperity.

A business-led campaign for a Brighter Britain needs to rise above the politics of Brexit and the resulting divisions. It should be focused on the most important goal; growth and prosperity for all. The fruits of growth will provide for further investment in fantastic UK public services, such as the NHS and education where Britain has 4 of the world’s top 10 universities.

Any such campaign needs to bring together a truly diverse set of business leaders across all political, social, gender and race backgrounds, who are united by one ambition; to contribute to growth. It would not be aimed at undermining any group or individual who has taken a specific stance around Brexit; instead it would be aimed at building bridges and a way forward that will inspire and create greater confidence – both domestically and internationally as we seek to build even stronger relationships with international trading partners. The group for Brighter Britain would be keen to support similar initiatives to improve inclusion, trust and to heal divides in civic society. Such a campaign would seek to help rebuild pride in our country and re-energise Britain’s international reputation.  

We believe there are huge areas of opportunity for UK businesses in the future; be it through taking a leading role in the inevitable boom for cleaner energy or to unleash an export-led growth strategy for the UK helped by exploiting the devaluation of sterling.  But we can only seize such opportunities if we are energetic and enthusiastic. Optimism and positivity are contagious. It will not guarantee success, of course, but it’s an important ingredient.  We are confident that Britain has a bright future, but this is not solely dependent on a political breakthrough. Those running companies and other organisations have a responsibility and a big part to play too. 

These thoughts are aimed at catalysing a movement for Brighter Britain - please join the conversation and contribute your ideas. There will be more to come around the goals and substance of the campaign as it develops. 

Stephen Kelly and Helena Morrissey