A report by the Independent says that the UK is at risk of becoming an “incubator economy”. The threat is to tech start-ups, which are increasingly being acquired by international competitors. This warning comes from Universities UK. They report that many high profile start-ups are looking abroad due to insufficient funding for growth in the UK. The analysis by Universities UK (UUK) predicts that with adequate support, around 27,000 new start-ups could emerge by 2028. This could generate a turnover of approximately £10.8bn. Vivienne Stern, chief executive of UUK, said: “The growth in university supported start-ups over the last decade has been a staggering success. We can, however, do more to ensure that they can remain and grow in the UK” The Federation of Small Businesses also stressed the importance of universities in fostering entrepreneurship.

BFS Comment:

Something that we at BFS have been warning about for years. If you have plans to grow a ‘Tech’ business but are struggling to find the necessary finance in the UK, then talk to us. Where you have a solid plan we can use this to seek investment. If you don’t then we can help you to put one together for you. Simply call peter on 07770 866 955 or e-mail us at enquiries@bufinserv.co.uk for a free initial consultation.