Skip to content
Premium Symbol Premium

Startup founders shouldn’t have to give up a pay cheque – it’s a luxury many can’t afford

Elon Musk and Rishi Sunak discussed startup founders taking a risk without a pay cheque.
Image credit: Simon Walker / No 10 Downing Street

Bletchley Park – famous for British intelligence – hosted the AI Safety Summit last week. At an associated event in Lancaster House, London, a conversation took place that lacked intelligence. During a softball interview with tech mogul Elon Musk, Prime Minister Rishi Sunak suggested that more British business founders and entrepreneurs should be comfortable with giving up their regular pay cheques to start their own business.

Keen to boost UK entrepreneurship, it was suggested that fostering Silicon Valley’s culture of risk and reward here in the UK will help create the right environment for new businesses to thrive.

I disagree. Every week I speak to hundreds of British startup businesses who are just setting out on their entrepreneurial journey. For those founders, the security of having a regular pay cheque is exactly what they need to grow their business initially and build a solid, profitable enterprise before they take the leap of faith and give up their day job....