There’s no growth in Britain without nurturing the spirit of the entrepreneur.

We’re passionate backers of the Purpose Coalition. As one of the UK’s largest specialist insurance groups, PIB Group works with individuals and businesses that are entrepreneurial in mind and spirit — people who are forging ahead and pushing boundaries in their respective fields.

As a private business that’s scaled from a small team to more than 4,000 people across the UK and Europe in the past decade, one thing has become increasingly clear: the future of Britain as a global business leader starts with the entrepreneur. For Britain to reach its true growth potential, it’s critical we nurture a culture where those who break the mould are rewarded. Every single person reading this has a duty of care to future generations to foster and encourage this spirit wherever it appears.

At PIB Group, the entrepreneurial spirit defines our culture — it drives us and shapes everything we do. We buy specialist entrepreneurial businesses and invest in them to thrive. In turn, our products and services support entrepreneurs by providing advisory services alongside insurance products to help them realise their ambitions and mitigate their risks.

For us to build a new, better future, risk takers must be enabled and empowered. Starting a business should be a badge of honour — an aspiration. These people should be viewed as leaders within our society, because our future success as a nation relies on this small group of individuals feeling supported to be brave, bold, and different.

One of the largest barriers to extending enterprise is the challenges private businesses face in the UK. We believe there are several shifts that need to happen to facilitate growth here.

First comes striking the right balance between innovation and safety. Regulators should be tough on lax practices, of course, but when barriers hamper true and genuine innovation, it’s important to adapt. Regulators need to encourage and facilitate entrepreneurship — to give the creative space needed to realise new ideas, not prevent them before they’ve started.

Secondly, we need to foster a culture of ownership. Employees should have skin in the game, motivating them not only to work hard but to innovate and collaborate. At PIB Group, a quarter of our shareholders are employees, and we’d encourage other businesses to look at similar models for mutual benefit.

Thirdly, we must invest in social mobility. Diversity of both thought and background is critical in a successfully growing society. Entrepreneurship must be nurtured wherever it’s found. At PIB Group, we invest in our talent — encouraging innovation and creativity, giving employees the freedom to think differently while being guided by our founding principles of collaboration, client focus, and entrepreneurialism.

Ultimately, for Britain to thrive in a new global environment, we must embed entrepreneurialism into the fabric of our society — something that starts from within business. As insurance experts, we understand that there is no reward without risk. This is the mentality required to forge Britain’s new path. We’re proud to be working with the Purpose Coalition to build a better future for Britain.