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London’s illiquidity is harming UK tech – but it’s not all doom and gloom

London IPO markets

Is London, and the UK more broadly, becoming less attractive for technology businesses? Judging by recent comments from the founders of Revolut and Monzo, or executives at Microsoft and Activison, you’d be forgiven for thinking the UK is losing its standing as a global tech hub.

Regulatory roadblocks, a lack of liquidity, and the UK’s entrepreneurial mindset have all come under the microscope.

The founders of Revolut – chief executive, Nik Storonsky, and chief technology officer, Vlad Yatsenko – this month launched a stinging attack against the UK for being less supportive of businesses compared to the US. It comes as Britain’s most valuable fintech company is reportedly set to see its application for a UK banking licence rejected.

“US tech champions are so supported by the government: all the lobbyists, politicians, governors, they always promote business, business, business and it is completely the opposite in the UK,” Storonsky told The Times. “We have experienced a slowing down. You never know what needs to be done here.”...