Former Apprentice stars call for greater government support for entrepreneurs
A group of Apprentice stars have called on the government to do more to help small businesses facing the double-whammy of new tax hikes and a stagnated economy.
Press, media and marketing platform Flex and The City sat down with a panel of former candidates from the BBC reality show, in collaboration with Press Box PR, to discuss the realities of life since their time in the boardroom – and what employers can do to help their businesses in the current economic climate.
2023 winner Marnie Swindells (second from left) linked up with Reece Donnelly (left), Raj Chohan (second from right) and Solomon Akhtar (right) to share their thoughts on operating in the wake of the new National Insurance charges starting to bite.
Speaking on a panel hosted by Flex and The City co-founders Tiger-Lily Beck (below right) and Demi Smith (below left), the four former candidates called for greater support for young entrepreneurs and predicted AI is ready to produce the UK’s next billionaires.
Acknowledging how tough it is for business, Donnelly, founder of performing arts school Theatre School of Scotland, which employs 25 people, said the laws and restrictions don’t help: “If you go back to the start of the year, my business had to change from being tax exempt to being on the tax register with 48 hours’ notice. We had about 48 hours to try and raise 20% extra capital, so it makes it very hard.”
Chohan, founder of Golden Key Financial Services and candidate in last year’s Apprentice, added: “If we were to ask for one thing it would be ‘reduce the taxes’. … When entrepreneurs first come into it, it’s so hard, first of all to make the money. Then if you’re self-employed and you’re trying to get on the property ladder, you are three years behind because you’ve got two years of accounts to produce. There’s so many things that need to be changed.”
Speaking about the AI revolution, Akhtar, entrepreneur and finalist in Series 10, said AI is really changing the game for young people: “This is a huge wave, similar to when the internet came out and everyone was jumping on that, then we had crypto. AI is this huge wave and young people getting into that today are gonna to be the next millionaires.”
Speaking about The Apprentice boss Lord Sugar’s views on getting employees back in the workspace, Swindells, winner of the 2023 series and owner of boxing gym Bronx, agreed to a point: “I don't think you can replace that idea of [creating a] culture and going into a place to be part of it. … I know he’s old school but Lord Sugar does have a point.
“Culture is everything, from the leadership to the people – in my case [of running a gym] the coaches and the members, how it feels, the energy and the atmosphere is the business, and you only truly achieve that when you are in person, making eye contact, seeing and feeling their energy, and sharing in that.”
Flex and The City was co-founded by best friends Tiger-Lily Beck and Demi Smith with the aim of becoming the digital destination for the office world.
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