‘The Silicon Beach dream was a lie’: Onbuy quits home with parting shot
Technology company Onbuy has quit its home town of Bournemouth and hit out at the local council saying there is no support for the industry.
Chief executive Cas Paton took to LinkedIn to announce the news that the business will now mainly operate from London and New York.
He added that while Onbuy “will always” have an office in the south, the business is “no longer a Bournemouth company”.
The company had previously been headquartered at Dean Park Crescent in Bournemouth but is now registered at an address in Great Portland Street, London.
According to its most recently published accounts, for 2023, Onbuy generated a revenue of £21.5m, up from £11.7m, while it cut its pre-tax loss from £10.7m to £8.7m.
Onbuy boss: ‘There is no support for tech here’
In the post, Paton said: “As a tech founder, be careful where you setup your business. Not all cities and towns are equal – and some are working against you at every step. We are saying goodbye to Bournemouth.
“Bournemouth we tried, but the journey has come to an end and we have to part ways.
“We really tried to keep Bournemouth our HQ and believed in BCP Council’s vision for Bournemouth and ‘Silicon Beach’ but the truth is, Bournemouth is an under-invested, council-destroyed destination; high streets that are completely deserted, major homeless drug user problem worse than the streets of London or Manchester, a transportation nightmare, and the opportunity cost is just too great.
“There is no support for tech here in Bournemouth. The ‘Silicon Beach’ dream was a lie.
“We say goodbye to Bournemouth. We say hello to London and New York.
“We will always have a satellite office in the south, but we are no longer a Bournemouth company. Was fun while it lasted. We will miss the good old days.”
‘The town has clearly turned a corner’
Cllr Richard Herrett, portfolio holder for destination, leisure and commercial operations, BCP Council, said: “We know confidence is flowing back into Bournemouth town centre – evidenced by new businesses coming into the town. Just before Christmas we saw the opening of the high-end restaurant The Ivy, and soon we will welcome The Botanist & JD Gyms amongst others, so it’s a shame OnBuy didn’t speak to us, as we’d have been able to share all this positive information with them.
“The town has clearly turned a corner, with footfall over Christmas up 12.5% compared to the previous year. We’ve secured a local operator for next year’s Christmas events and activities demonstrating there is a real belief in Bournemouth.
“Empty shop units are being brought back into action as we attract more investors into the town centre. At the former Beales and House of Fraser stores we are seeing a mixed use of retail, workspace and accommodation take shape which highlights Bournemouth’s commitment to growth and modernisation.These developments not only enhance the town’s appeal but also creates job opportunities and fosters a thriving local economy.
“We are also fortunate to have a thriving and growing creative and digital community in the area, which the Council continues to nurture and support, along with our partners at the universities and college.
“Many of these businesses are based in offices in and around the town centre. Together with the success of co-working spaces in Bournemouth such as This Workspace and the recently arrived Patch, as well as The Foundry in Poole, the office community bring further footfall and spend into Bournemouth Town Centre.
“We are aware of the challenges facing every high street in the UK, but as a council we are determined to make sure we continue to do our part in supporting our local businesses. We recently awarded £358,000 to make the town centres of Bournemouth, Christchurch and Poole more attractive with projects such as enhancing street lighting additional planters, artwork and events.
“We’re also one of only four local authority areas selected by government to pilot a scheme to address empty shops, showing further national confidence in Bournemouth’s future.”