Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Half of UK tech firms need greater support to scale, says report

by August 10, 2022
August 10, 2022
Half of UK tech firms need greater support to scale, says report

Half of the UK’s technology companies are lacking in the support necessary to scale the business, according to a new report today.

The UK has a thriving technology space, securing 54 IPOs which have collectively raised £3.2bn – with 37 of these taking place last year, the report by Tech Nation, a body for UK tech entrepreneurs, found.

The figure includes fan favourites such as Deliveroo, The Hut Group and Funding Circle, which cumulatively raised £1.91bn.

However, 50 per cent of tech companies – particularly those focussed on developing emerging technologies, such as cyber – are not scaling, the report found.

“We know that the UK is globally renowned for its success in fintech, which dominates for IPOs, and although this is truly exciting news, we must not ignore the fact that an even larger percentage of tech companies are not seeing the same success,” Dr George Windsor, research and data director at Tech Nation, said.

Windsor urged that the newest wave of UK tech firms must be ‘nurtured’.

The UK’s tech leaders have long called for greater support and funding in the tech space, as the country’s research and development (R&D) falls behind what is needed to be a global leader.

“Our product is innovation and if you don’t support that product and get that product out into the world, then the country just becomes a service industry,” CEO of British semiconductor firm Paragraf, Simon Thomas, said. last week, warning that the economy would “eventually end up in situation where most of the jobs are low skilled, low pay” unless the government increased support.

While proper support appears lacking, the Tech Nation data found that a record number of UK tech companies that have been able to scale are exiting, with 23% of tech firms making it to Series C or a high-quality liquidity event in 2021.

Read more:
Half of UK tech firms need greater support to scale, says report

0
FacebookTwitterGoogle +Pinterest
previous post
What to look for when predicting a recession
next post
Sentiment Rebounding Too Much

You may also like

Which Lifestyle Factors are a Common Cause of...

June 19, 2023

John Lewis CEO criticises Rachel Reeves over ‘two-handed’...

November 21, 2024

Spotify attacks Apple’s ‘outrageous’ 27% commission

January 19, 2024

Amazon to require self-publishers to declare if content...

September 12, 2023

Business Gateway helps digital marketing firm achieve Net...

August 24, 2022

UK homes cancelled 2 million streaming services last...

January 30, 2023

UK Economy Stagnates in April Amid Wet Weather

June 12, 2024

How to Enhance Your Warehouse Operations with Cutting-Edge...

March 3, 2025

FTSE 100 ends year up 3.8% but trails...

December 30, 2023

Jeremy Hunt Proposes Pension Fund Overhaul to Boost...

March 4, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How Staff Can Strengthen HIPAA Compliance and Security

      June 29, 2025
    • Lotus denies plans to close Hethel factory amid US expansion talks

      June 29, 2025
    • Top university degrees lose sway as tech employers prioritise job-ready skills

      June 29, 2025
    • Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

      June 29, 2025
    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025
    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025

    Categories

    • Business (8,334)
    • Investing (2,081)
    • Politics (15,853)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved