Number of tech firms in UK ‘has risen 31% since 2010’

revenue growth

The number of tech-related companies in the UK has risen by 31% since 2010, according to the London Stock Exchange’s 1000 Companies to Inspire Britain report.

Produced in partnership with DueDil, a London-based FinTech firm that provides background information about businesses and their founders, the report also said that tech and digital businesses account for 12.4% of the UK’s economy.

Writing in the report, Rt. Hon. George Osborne MP, said: “UK high-growth businesses are leading the charge in rebuilding our economy. These companies are the backbone of the British economy.

“They create high-quality, well paid jobs, innovate and drive economic growth. This government fully understands the need to support ambitious entrepreneurs and ensure they can access the finance the need to grow,” he concluded.

Angel investment

The report also found that angel investment is currently on the rise, but there’s a need to boost its representation outside of London.

Alongside this, the report noted that there is currently still a lack of female angel investors as women only represent 14% of the overall angel population.

Jenny Tooth OBE, CEO of UK Business Angels Association, commented: “We recognise that it is not sufficient not only to mobilise angel investment, we need to ensure that all the sources of finance are connected.”