The majority of UK tech leaders consider their home market as a more attractive place to grow their business than any other region, according to data from Barclays.
Research from the bank as part of its Business Prosperity Index found that 62% of polled tech leaders prefer the UK for scaling a company than mainland Europe, 61% preferred the UK to the Asia-Pacific region and 60% preferred it to the US.
The research found strong market opportunities, access to a skilled and diverse talent pool and fast-growing consumer take-up of tech products as the key strengths cited for the UK.
Though the leaders felt strongly in favour of basing their operations in the UK, the sector remains highly outward-facing, with 95% of respondents saying they engage in exports.
“There’s a clear sense that the UK is holding its own on the global tech stage, with founders and leaders increasingly seeing the UK as one of the best places in the world to grow and scale,” said Helena Sans, head of technology, media and telecoms and innovation banking at Barclays UK Corporate Bank.
“To keep up this momentum, we’ve got to break down the remaining roadblocks – including access to funding, attracting global investors, and building a stronger appetite for risk.
Assessing how tech companies felt the UK could retain its enviable position, Barclays found that 72% believed government backing is crucial, with 44% calling for more specialised funding programmes for the sector.