BrewDog founder James Watt has claimed that it's "has never been a more difficult time to start a business in the UK", blaming the Chancellor’s for making life harder for entrepreneurs.

The Scottish businessman, who recently sparked controversy with his views on work-life balance, has unveiled plans for a new reality TV show offering the biggest cash prize in UK television history.

Mr Watt is on the hunt for entrepreneurs to participate in House Of Unicorns, where they could win £2m to boost their businesses. The entrepreneur, who co-founded the craft beer giant BrewDog in Aberdeenshire in 2007, will personally invest £1m into the winning business, with an additional £1mcoming from Founders Capital, Europe’s largest founder investor community.

Mr Watt is joining forces with Sony and Whisper Productions to create the new programme, after previously investing in numerous businesses through his online show, The Next Unicorn. Over six weeks, founders, entrepreneurs and business leaders will be tested as they vie for the chance to claim the £2m prize.

Mr Watt revealed that the idea for the show was born out of frustration with existing business investment shows like Dragons’ Den and The Apprentice.

He expressed his frustration, saying: "I’ve always been so disillusioned and, frankly, fed up with the tired format of reality TV business shows relying on worn-out tropes and stale stereotypes of entrepreneurs for comedy value, which are well past their sell-by date."

He shared his ambition to "double the amount" of UK unicorns – firms valued at £1bn or more – through his new programme. However, he voiced concerns that policies by the new Labour Government have made it tougher to kick-start a business in Britain.

He remarked: "I think we partly wanted to do this because it’s never been a more difficult time to start a business in the UK." He continued to highlight the challenges faced by British entrepreneurs: "There are still an amazing batch of entrepreneurs and opportunities in the UK, but I think the environment at the minute does mean that some need that extra support to really grow to their full potential."

Reflecting on recent economic decisions, he added: "I don’t think the autumn Budget was helpful, and we are seeing founders leaving to run businesses overseas, so I really hope we see the momentum shift soon."