Start-ups facing overseas threats
Start-ups facing overseas threats
The UK is at risk of becoming an “incubator economy” as tech start-ups are increasingly being acquired by international competitors, warns Universities UK.
If you already have a business in the UK and were thinking of expanding overseas it seems now is not a good time.
The analysis by Universities UK (UUK) predicts that with adequate support, around 27,000 new start-ups could emerge by 2028, generating a turnover of approximately £10.8bn.
Also City forecasters have revised their inflation expectations upwards while cutting growth forecasts for the UK economy. The average GDP growth forecast for this year has been lowered to just 1%, down from 1.1% in February. The OECD has also reduced its 2025 growth forecast from 1.7% to 1.4%.
So it’s steady as she goes for the time being but it remains to be seen what Rachel Reeves Spring statement says later this week.
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