Castore founder Tom Beahon has urged the government to back Britain’s risk-takers by creating the incentives and environment they need to succeed.
Beahon co-founded the Manchester-based sportswear brand with his brother Phil in 2016 and has helped transform it into a global name.
The entrepreneur, who was included alongside his brother in BusinessCloud’s Northern Leaders 2026 list, warned that the UK risks falling further behind its international competitors unless changes are made – starting with Chancellor John Healey’s Budget on October 28.
Writing on LinkedIn, he said: “Castore is living proof that entrepreneurial businesses continue to thrive in Britain.
“The UK has many structural advantages (thriving venture capital markets; world class education; globally recognised language and legal systems and unique cultural assets to name a few) that cannot be easily replicated by other countries or diluted by short-term government decisions.
“However, growth doesn’t happen by accident. It takes ambition, skill and long-term commitment, often from founders who consciously choose to delay their own financial gratification in the hope of building something of even greater value down the line.
“This is never guaranteed and the risks are very real but without the commitment to long-term investment and innovation from entrepreneurs around the country jobs, living standards and ultimately society all suffer.
“Despite the UK’s many enduring strengths, our right to win as a country in an ever more competitive global economy is slowly but consistently diminishing.
“As someone who makes decisions every day on hiring, investment, expansion and exporting, it is clear to me that our collective ambition as a country is waning and unless something changes with our approach to business and wealth creation we will continue to fall further behind.
“Whatever your political views, this is a wholly negative thing for our country.”
The success of Castore has attracted interest from potential buyers in recent months.
Beahon, who was also included in BusinessCloud’s Founder 250 list, added: “When we started Castore 10 years ago, the UK felt like the best place in the world to build a company and where ambitious people from across the globe all wanted to be, creating an ecosystem that benefitted everyone.
“Now the next generation of talented young people are choosing to leave the UK and build their businesses and careers overseas. When this happens, something needs to change.
“At the upcoming budget, the government must demonstrate they understand entrepreneurs and take real action to support the UK’s risk-takers so they have the incentives and environment to be successful.
“This is not something that happens easily and the challenges we face are very real but without proving to Britain’s founders they really want them to be successful, our government will continue to oversee steady decline.
“Policies are important but so is sentiment and the government has a chance to reset their relationship with business.
Exodus of top talant
“Not doing so won’t result in instant catastrophe but it will accelerate the steady stream of talent leaving our country, taking with them the tax income the rest of the country relies on.
“Britain can continue to punch above it weight on a global stage and be an attractive home for global talent but this won’t happen on its own and the need for real action is increasing every day.”
Castore has continued its expansion through acquisitions, recently snapping up British footwear brand Grenson Shoes and INEOS-owned heritage fashion house Belstaff.