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Andy Burnham has been elected Leader of the Labour Party after receiving the backing of 379 Labour MPs and 23 affiliate organisations. He was officially announced at Labour鈥檚 Special Conference at the Trades Union Congress in London.

In his first speech as leader, Burnham thanked outgoing leader Sir Keir Starmer and said he wanted to build on the work already done. He also promised a united party and said Labour now had one more chance to win over the public.

Burnham said, 鈥淭oday, we thank Keir for his service to our Party and to our country.鈥�

He also told members, 鈥淲e are united today, as Hollie said, as Lucy said, as Shabana said, and thank you so much for your words. We are united and we put the power that comes from that unity at the service of people and places who have been waiting too long for politics to let them hope again.鈥�

Later in the speech, Burnham said, 鈥淚 have a plan. And what I also want you to know is that I won鈥檛 change. I have a style, it鈥檚 my style. I will always stay close to the ground, close to the people.鈥�

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What Could It Mean For UK Businesses?

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Business owners are now waiting to see what Burnham鈥檚 economic plans will look like once he becomes Prime Minister next week.

Keith Griffiths, founder and CEO of The Entrepreneur Festival, believes tax policy will be one of the first areas under close scrutiny.

He said, 鈥淎ndy Burnham鈥檚 appointment as Labour leader marks a defining moment for UK businesses. With expectations that he will become Prime Minister next week, companies are watching closely to understand what a new era of tax and economic policy could mean for growth and investment.鈥�

Griffiths added, 鈥淎ny serious tax reform must answer one question: does it help businesses start, scale and invest?鈥�

He also said, 鈥淓ntrepreneurs don鈥檛 just need lower taxes. They need certainty, stability and an environment where ambition is rewarded. The UK has no shortage of entrepreneurial talent, but we still have a scale up challenge.鈥�

Griffiths finished by saying, 鈥淎 thriving economy depends on helping founders build successful businesses, access investment, develop skills and reinvest their experience into the next generation. Tax reform is part of the answer, but so too is creating a culture where entrepreneurship is recognised as a driver of jobs, growth and opportunity.鈥�

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What About Digital Identity?

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One policy is digital identity鈥� last听week, Chloe Coleman, co-founder and CEO of fraud and risk platform Vouchsafe, responded after Burnham announced Labour would scrap compulsory digital ID.

Coleman said, 鈥淭his weekend鈥檚 announcement is largely unsurprising. Once Sir Keir Starmer鈥檚 government began retreating from making digital ID compulsory, it felt as though the clock was already ticking on the wider programme.鈥�

She believes digital identity services will continue through private companies and existing services.

Coleman said, 鈥淧rivate sector verification services will continue to support financial institutions, employers and landlords, while recent licensing changes will enable people to use registered digital verification services to prove their age when buying alcohol. Adoption will continue to grow because the practical need for secure and convenient identity verification has not disappeared.鈥�

She also said people without passports or driving licences could lose an easier way to prove their identity.

鈥淭he question should never have been simply whether Britain introduces digital ID, but how it creates a trusted, proportionate and inclusive system that does not exclude people from employment, housing or essential services simply because they cannot afford or obtain traditional photographic identification,鈥� she said.

Burnham鈥檚 first weeks in office are likely to answer one thing for businesses and that is: will his plans make it easier for companies to invest, recruit and grow, or will they need to wait longer for the detail?

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What Do Startup Leaders Expect?

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After asking startup leaders what they expect of Burnham, this is what they shared鈥�

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Our Experts:

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• Sophie Milliken MBE, Founder and CEO, Moja Group
• Kevin Fitzgerald, UK Managing Director, Employment Hero
• Richard Davis, CEO and Co-Founder, 51toCarbonZero
• Frank B枚hmer, CEO, Ninox
• Paul Corcoran, Founder & CEO, Agent
• Julaine Speight, Co-Founder, First Internet
• Carl Hazeley, CEO, Finimize

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Sophie Milliken MBE, Founder and CEO, Moja Group

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鈥淎s someone who has built businesses in the North East, I鈥檓 less interested in political slogans and more interested in whether the next Prime Minister truly understands that the UK isn鈥檛 one economy.

鈥淔or too long, founders outside London have had to work harder for the same investment, the same visibility and often the same level of recognition. The North East has exceptional entrepreneurs, world class universities and innovative businesses, yet we鈥檙e too often overlooked in national conversations.

鈥淲hat I want from Burnham is simple. Recognise that backing regional growth isn鈥檛 an act of fairness, it鈥檚 smart economics. Give regions the power to make decisions locally, invest in the infrastructure and skills that matter to them and stop expecting every part of the country to fit the same mould. If we鈥檙e serious about driving UK growth, we need a Prime Minister who doesn鈥檛 just talk about the regions, but sees their differences as one of the country鈥檚 greatest strengths.鈥�

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Kevin Fitzgerald, UK Managing Director, Employment Hero

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鈥淎s Andy Burnham steps into the role of Prime Minister, there has already been much said for what his Manchesterism brand of politics might mean for businesses and workers across the UK. The argument that economic growth lies in cities and communities across the UK, and not just in the capital, is a good one.

鈥淥ur data shows employment growth in the North is outpacing even that of London, but employers are being hit harder by rising employment costs and complexity, which has more of an impact on regional businesses and therefore has a knock-on effect on wages.

鈥淪o, if the vision for Manchesterism is growth driven by the regions, then we must look at national policies which make hiring and growth complex for SMEs. Increasing businesses鈥� ability to be ambitious and make hiring decisions will ultimately support SMEs up and down the country to drive employment growth within their communities.鈥�

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Richard Davis, CEO and Co-Founder, 51toCarbonZero

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鈥淚鈥檇 like to see a stronger focus on creating the conditions for businesses to invest and grow. That means providing greater long-term certainty around climate and energy policy. Businesses can adapt to ambitious goals, but it鈥檚 much harder to make long-term investment decisions when the policy landscape keeps shifting.

鈥淚鈥檇 also like to see lower Capital Gains Tax for entrepreneurs. Founders take significant personal and financial risks to build businesses, create jobs and develop new technologies. The current level of taxation acts as a disincentive for people considering taking that leap. If we want the UK to remain an attractive place to start and scale innovative businesses, we need to reward entrepreneurship while creating a stable environment for long-term investment.鈥�

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Frank B枚hmer, CEO, Ninox

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鈥淎ndy Burnham has talked about taking a tougher line on Big Tech, but AI is probably going to be the issue that defines tech policy over the next few years and there鈥檚 a real risk we end up over-regulating the industry.

鈥淵ou only have to look at Europe鈥檚 AI Act to see how over-regulation can add significant complexity for businesses, where it has also raised genuine concerns about stifling innovation and falling behind regions like the US and Asia.

鈥淭here absolutely needs to be protection around privacy, security and the use of personal data. But the UK also needs to create the conditions for innovation to thrive and give businesses the confidence to invest, experiment and build while keeping regulation focused on the tangible risks rather than throwing up barriers that just slow everything down.

鈥淎I is likely to be one of the biggest drivers of growth over the next few years and getting that balance right could end up being one of the defining challenges of Burnham鈥檚 time as PM.鈥�

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Paul Corcoran, Founder & CEO, Agent

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鈥淚鈥檓 genuinely excited by the prospect of a Prime Minister who understands the realities of running and growing businesses outside of London. It feels refreshing to have that perspective represented at the highest level.

鈥淭he biggest opportunity now is creating an environment where small and medium-sized businesses have the confidence to invest, innovate and grow. They鈥檙e the backbone of our economy, but too often they鈥檙e navigating uncertainty rather than focusing on expansion. Giving businesses the stability and support they need to recruit new talent, embrace new technologies and invest in their future will be critical to delivering good growth.

鈥淎t our recent Good Growth Summit, where we brought together more than 200 senior business leaders, the overwhelming message was that businesses want to be listened to. They want policies that reflect the realities they鈥檙e facing and give them the confidence to invest, whether that鈥檚 in innovation, new talent or the transition to net zero.

鈥淭he UK has no shortage of ambition or entrepreneurial talent. If the new government can create the conditions for businesses to succeed, encourage innovation, champion enterprise and work in genuine partnership with the business community, then there鈥檚 a real opportunity for the whole country to benefit.鈥�

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Julaine Speight, Co-Founder, First Internet

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鈥淗onestly, the bar for the first year has to be realistic 鈥� he鈥檚 inheriting a defence crisis, a stagnant economy and a generation of young people locked out of work. What we most want to see is the right people in the right places with real backing and the resources to make change happen.

鈥淏ut the longer-term asks are clear: real devolution 鈥� not a review or a consultation, but an actual commitment that city regions will have the powers and funding to shape their own economic futures. A proper industrial strategy for creative and digital with genuine investment behind it. And digital infrastructure treated as seriously as physical infrastructure 鈥� connectivity, data sovereignty and digital public services aren鈥檛 niche issues, they鈥檙e the foundations of a modern economy.

鈥淎 PM who鈥檚 spent years running one of the UK鈥檚 biggest city regions should understand that better than most. Now we need to see it.鈥�

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Carl Hazeley, CEO, Finimize

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Diversity and pathways into tech

鈥淲hen I think about what an Andy Burnham government could achieve, I鈥檓 not just looking at growth figures, I鈥檓 looking at how his vision might change the industry.

鈥淎s a Black fintech CEO, I don鈥檛 cut a familiar figure. I also grew up in a single-parent household in Hackney and benefitted from government support to get where I am. I鈥檓 the embodiment of Burnham鈥檚 鈥榦pportunity in every postcode鈥� vision.

鈥淲e say we鈥檙e trying to get more people investing, but we鈥檙e letting a narrow group of people fund and build financial products. Our research shows only 14% of people feel investing is 鈥榝or people like me鈥�. Simply put, if people don鈥檛 feel the industry understands them, they鈥檙e much less likely to engage with it.

鈥淚f Burnham is serious about creating wealth in every postcode, he should also be thinking about who gets to build the financial system. Opening up more pathways into fintech and financial services is good for innovation, trust and growth. If we change who鈥檚 in the room designing financial products, we鈥檒l build products that work for more people. That鈥檚 how you get more people investing, and that鈥檚 how you spread wealth much more widely.鈥�