Confidence among the UK’s growth-stage entrepreneurs has risen sharply, according to new data from the entrepreneur network Helm. Despite tax increases, higher labour costs, and lingering frustration with government policy, 75% of founders surveyed said they expect their companies to grow in 2026.
Helm, which represents more than 400 scale-up leaders, found that fewer than one in five members (18%) were pessimistic about next year’s prospects. The findings, gathered between 8–9 December, suggest a rebound in sentiment after a year of squeezed margins and subdued investment appetite.
The surveyed companies — each averaging £21 million in annual revenue — collectively generate over £8 billion in turnover and contribute more than £1 billion annually in taxes, through corporation tax, employer National Insurance, and other business levies.
Andreas Adamides, CEO of Helm, said the optimism reflects the long-term mindset typical of scale-up founders. “Our network contributes £1 billion annually in taxes and economic value because these founders understand that resilience isn’t about cutting corners when times get tough,” he said. “They’re not chasing quarterly headlines — they’re building for decades to come.”
The survey comes ahead of further wage rises in April, when the national living wage for over-21s will increase 4.1% to £12.77 an hour, and younger workers will receive an 8.5% uplift. These adjustments follow significant hikes last year — 6.7% for those over 21 and 16.3% for 18–20-year-olds — alongside higher employer National Insurance contributions.
Yet despite these rising costs, hiring and investment intentions are improving. Almost four in ten respondents (39%) said they plan to make new hires in 2026, compared with just 40% who said the same a year ago. Meanwhile, 47% intend to make new business investments, with a further 19% undecided.
The change contrasts with December 2024, when 60% of founders said they were delaying recruitment due to higher employer taxes. The new data suggests that while business leaders remain wary of policy uncertainty, confidence is returning across the UK’s high-growth sector.
Adamides added: “Yes, they’ve been blindsided by rises in national insurance and minimum pay, but they’re still committed to investing in their staff. They’re not giving up on their people, their investors, or their customers.”
The results echo a modest improvement in wider business sentiment seen in other recent indices. The CBI’s latest economic forecast notes cautious optimism among SMEs for 2026, underpinned by stabilising interest rates and softening inflation expectations. But many founders remain frustrated by the regulatory burden and what they see as a lack of pro-enterprise policymaking.
In Helm’s earlier survey, 64% of respondents said the government is “anti-business,” while 95% said the UK does not “reward hard work.” Nonetheless, 59% of founders reported that 2025 had been a better year than 2024 — a sign that, even amid tightening margins, confidence in long-term growth remains intact.
As Adamides put it: “Founders don’t fold at the first setback — it’s not in their DNA. They’ve navigated recessions and pivoted through pandemics. They solve problems, adapt strategies, and find ways to protect what they’ve built while still pushing for growth.”
Founded in 2003, Helm is the UK’s leading membership community for scale-up founders and CEOs.
