Tech Sector Leads Exodus Of 6,000 Business Owners

Nearly 6,000 high-growth business owners left the UK in just two years between 2024 and 2026, with the greatest proportion working in tech sectors, according to new analysis commissioned by Rathbones, one of the UK’s leading wealth and asset management groups.

The findings reflect a marked rise in international mobility among UK business owners and amount to a significant outflow of entrepreneurial talent from the country, underscoring wider concerns about economic competitiveness, tax pressures and the attractiveness of alternative jurisdictions.

The analysis of filings at Companies House show that 5,940 business owners left the UK between January 2024 and January 2026. During this time, 3,182 business owners also came into the UK creating a net outflow of 2,758.

The data also shows that 8,423 companies in total saw a business owner leave the UK, as many business owners work across multiple firms. UAE was the most attractive destination for those leaving the UK, with Spain in second and the US in third. Portugal and France completed the top five.

Certain industries were more affected than others by the exodus, with 10% of companies in software, more than three times the number of the next largest sector, property development, followed by marketing. The departures were also skewed geographically, with nearly half (46%) leaving London and 14% from the South-East, the next highest proportion.

While the UAE, Spain and the US were attractive destinations, the analysis showed, the UK saw its strongest inward mobility from Hong Kong, Pakistan and France, followed closely by the US; Hong Kong, Pakistan, Türkiye and China were the only net importers.

The data does not show the sectors in which these owners work.

Commenting on the research, Michelle White, Head of Private Office at Rathbones Group said:

“International mobility among business owners and wealth creators continues to accelerate, and these findings show a clear shift in where UK entrepreneurs choose to base themselves.”

“We are talking to more individuals and families – particularly younger business owners – considering relocation in search of better opportunities, more favourable tax environments, and more optimism about long-term growth prospects. While the UK remains a strong global centre, these trends highlight the importance of ensuring that our economy, talent pathways and tax system remain internationally competitive.”

These macro trends are mirrored in the experiences of internationally mobile individuals and families seen by Rathbones. One recent example involved a UK born senior professional working at a multinational technology company who relocated from London to New York to take up a global leadership role but still holds UK and international investments managed by Rathbones from the UK.

William Luttrell-Hunt, Senior Investment Director who provides discretionary services to US resident clients through Rathbones’ Securities and Exchange Commission (SEC) licence, said:

“We are seeing more clients, including many Americans, looking to manage their tax, regulation, currency exposure and long-term financial planning across multiple jurisdictions. They include people leaving the US or wanting to manage at least some of their wealth elsewhere.”

Earlier this year, coinciding with the opening of the World Economic Forum at Davos, Camilla Stowell, CEO Wealth, warned of the increasing and complex risks facing internationally mobile professionals and business owners. Rathbones has been developing its services to meet rising demand in this area.