Shane Gallwey, Chief Executive Officer in
1 October 2026
Britain has faced a difficult economic backdrop in recent years, but beneath the headlines there is another story. Entrepreneurs are still starting businesses, developing new technologies, creating jobs and finding better ways to do things.
At the 2026 Guinness Ventures Investor Conference, I spoke about the ambition we see every day across the UK growth-company market, the contribution these businesses make to the economy and the qualities we look for when deciding which companies to back.
It is a story that gives us plenty of reasons for optimism.
Britain's other economic story
There is no shortage of discussion about the challenges facing the UK economy. Growth has been disappointing, productivity has remained weak and businesses have had to contend with higher costs, regulation and geopolitical uncertainty.
But that is only part of the picture. Through our work at Guinness Ventures, we also see people starting companies, developing new technologies, creating jobs and taking risks in pursuit of better products and services.
The polished moments are easy to see. The fundraising announcement. The product launch. The growing team. What is less visible is everything behind them: products that do not work as planned, customers that do not sign, difficult cash-flow decisions and the responsibility of having people's careers and capital resting on your decisions. Building a company requires persistence as well as ambition.
The bigger picture
Around 13 million people employed by small businesses
Small businesses with fewer than 50 employees collectively employ around 13 million people, representing approximately half of private-sector employment.
Entrepreneurs and smaller companies are not at the margins of the UK economy. Collectively, they form a substantial part of it.
Why growth companies matter
The UK has developed a sophisticated ecosystem for supporting ambitious companies as they grow. It combines leading universities and scientific research with strengths in technology, medicine and engineering, well-developed financial and legal systems, and an experienced pool of investors and managers.
In the first half of 2026, British companies attracted more than 40% of all venture capital invested across Europe. That was more than France, Germany, Sweden, Spain and the Netherlands combined.
EIS and VCT investment form part of this infrastructure by bringing private capital together with entrepreneurial ambition. Ultimately, however, the entrepreneurs themselves remain at the heart of it.
What we look for when investing
We see a large number of companies seeking investment. Our role is to filter those opportunities and identify the businesses that fit the type of growth investing we undertake through Guinness Ventures.
01 | Scale
An established business model
For our VCT and EIS investment, we focus on scale-up businesses rather than very early-stage start-ups. One of our initial filters is revenue of at least £1 million, helping us focus on companies that have already demonstrated commercial demand.
02 | Growth
Evidence of strong growth
We examine both historic revenue growth and what we believe the company can achieve in future. Ambition matters, but it needs to be supported by evidence that the business can scale.
03 | Defensibility
Something difficult to replicate
We favour companies with defensive qualities. These may come from proprietary expertise or intellectual property, a strong position within a particular market, or a brand that has built meaningful customer loyalty.
These filters do not remove investment risk, nor do they guarantee success. They help us concentrate our work on companies that have already achieved meaningful progress and have the potential to develop further.
Resilience in a changing market
Growth companies do not operate in isolation. Technological change, including artificial intelligence, evolving competitive landscapes and wider macroeconomic pressures are continually reshaping the markets in which they operate.
That makes the quality of a management team particularly important. The strongest businesses we encounter are not simply pursuing growth. Their teams are capable of adapting when circumstances change, maintaining a clear vision while responding to new information.
Resilience, vision and adaptability are difficult to capture in a single financial metric, but they matter when considering whether a company can navigate the inevitable challenges of scaling.
Backing ambition with capital
At Guinness Ventures, our investment activity spans VCT, EIS, SEIS and deal-by-deal co-investment. While the structure and stage of each investment can differ, the principle behind them is similar: connecting private capital with ambitious UK businesses seeking to grow.
For us, that partnership extends beyond the investment itself. It involves founders and management teams building companies, investors providing capital, advisers helping investors navigate their options and an investment team assessing and supporting businesses through different stages of development.
Despite the challenges facing the wider economy, Britain remains a country with considerable creativity, innovation and ambition. People are still starting companies and taking risks. Our job is to identify the businesses we believe can become tomorrow's growth leaders and help provide the capital to support that ambition.
Explore Guinness Ventures
Find out more about how Guinness Ventures invests in ambitious UK growth companies and explore the businesses we have backed.
Frequently asked questions
A few of the key points from our approach to investing in UK growth companies.
Ambition. Realised.
Entrepreneurs provide the ideas, ambition and determination. Investors provide the capital. Guinness Ventures brings the two together to support the growth leaders of tomorrow.