British made but another who goes abroad

Inventor Sir James Dyson has topped the Sunday Times Rich List for the first time after increasing his net worth by £3.6bn in a year.

"The Brexit-backing entrepreneur made his fortune with the invention of the bag-less vacuum cleaner which went on sale in 1993.

A self-made man, Sir James, 72, grew up in Norfolk in the 1950s and studied art before his art college principal suggested he go into design."

https://www.bbc.co.uk/news/uk-52694459

It appears many entrepreneurs end up going abroad, if there was a way of persuading them to stay in the UK we would benefit in so many ways.

What do you see as a way of doing this, any ideas?

Re: British made but another who goes abroad

Protection of wealth maybe not the only factor a person considers when upping sticks. If a 72 year old, decided to do anything at their time of life, that's their prerogative.

Re: British made but another who goes abroad

Quite agree with you there. Going back over the years though, it does seem as though so much was either invented here but sold on for another country to benefit, or as in this case the inventor / entrepreneur takes themselves and their product abroad:

https://www.theneweconomy.com/techno...-at-monetising

https://www.lovemoney.com/gallerylis...nd-discoveries

Re: British made but another who goes abroad

That's the thing Baz, we made the best Steel from which Vaults were made, unfortunately, you don't need a Vault to store Bitcoins, but the Steel was an important standpoint in the journey.

Re: British made but another who goes abroad

It's BUSINESS. Business is about making money. Anyone who starts an enterprise for any other reason is a fool.

Re: British made but another who goes abroad

And going abroad is usually about tax. But JD had other reasons, not just taxation: cheap labour and Singapore’s free trade agreement with the EU.

I understand he will continue to employ 1000s here in the UK, and spend time at his Gloucestershire estate.

Re: British made but another who goes abroad

The nation of Shopkeepers could not have all been budding entrepreneurs, there is only space for so many.

Re: British made but another who goes abroad

Most of us on here are aware of your thoughts on this AT, we have seen you post this enough times. What I just wonder is that if we have the inventors / entrepreneurs then why cannot the money be made in this country rather than all this talent being wasted and going abroad as it has done for many years? There must be something lacking in this country so what is it and why cannot this be reversed so the UK can benefit?

Re: British made but another who goes abroad

Some inventors must have been disappointed when their invention was commercialised.

Re: British made but another who goes abroad

I too was peed off when Dyson moved his manufacturing abroad, but in his defence he kept his R&D in Britain employing thousands, he trains thousands of budding engineers in Britain, and he pays his taxes in Britain. He also hasn't taken advantage of the furlough scheme for his employees like many other millionaires have, so all in all not a man I could call and good luck to him I say.

He made his billions through his own efforts and, in doing so, Britain has gained enormously from his citizenship, we really need more like him.