A Quarter of UK Tech Founders Favor Foreign Sale, Survey Finds [BNN Bloomberg (Canada)]
Barclays PLC (BCS)
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Source: BNN Bloomberg
concerns about domestic infrastructure and skills shortages, according to a Barclays Plc survey. Almost 16% of respondents said their preferred exit strategy would be to sell the company to a foreign buyer, while 10% said they'd opt to sell shares abroad, according to the study, published on Wednesday. Some 2,500 people in the tech industry were surveyed, of whom more than 12% were founders and 35% were executives. The data suggests Prime Minister Rishi Sunak still has work to do to persuade UK companies to stay as they seek to scale up, after high profile British-built firms such as Arm Holdings Ltd. and DeepMind in recent years sought investment abroad to pursue their global potential. Sunak has repeatedly stated his ambition to make the UK a global leader in technologies of the future, and Chancellor of the Exchequer Jeremy Hunt last year said “we want the UK to be the best place in the world to start, grow and invest in a business.” Despite the survey data, Minister for Tech
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