The chairman of Darktrace has said Britain has a “culture problem with business”, just days after overseeing the cyber security company’s £4.2bn sale to US private equity giant Thoma Bravo. Gordon Hurst, who has spearheaded the Darktrace board since 2021, said UK companies were struggling to compete with US rivals because of stricter rules over executive pay and a lack of support for entrepreneurs. He said: “I genuinely think that the UK has a culture problem with business. It is just not talked about positively enough. I don’t think it is given the support and the accolades it should be given.” Mr Hurst’s comments will fuel concerns over London’s ability to compete as a financial hub, as bosses grow increasingly frustrated over dwindling valuations compared to rivals in America. The ability to replicate US-style pay packages has been at the heart of this debate. The Darktrace chair said it would be “highly dangerous” for Britain to ignore the attraction of higher salaries in the US, particularly as it poses a challenge in hiring the best talent. He said: “A lot of the experience needed to manage high-growth tech companies is in the States. I think we, as in the...