Menu visibility control

Video

Events

Startup Surgery

Most Recent

FinTech

How tech is shaking up the world of banking

Need to Know

Here’s what Google, Apple and Microsoft are up to in healthcare

Investments

Freelance management app Lystable closes £8m Series A led by Valar Ventures

Press Releases

Starling Bank unveils beta as it begins roll out to first customers
VentureFounders surpasses £40m funding mark in 2 years of operation
Software testing leader TestPlant appoints Dr. John Bates as CEO

Solving ‘scale-up’ gap could create £225bn

sherry coutu
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Britain’s burgeoning tech sector is being held back by a skills-gap which, if solved, could add £225bn to the UK economy in the next 20 years, according to new research.

The Scale-Up report, which launches today, unveils a plan to help British startups grow and unlock the full economic potential for UK GDP.

Britain now starts more companies per capita than the US but far less of these start-ups are scaling into large companies, which contribute a disproportionate amount of jobs and growth to the economy.

UK tech gender pay gap: What’s the solution?

‘National economic interest’

In the report’s foreword, its author Sherry Coutu insists “it is in our national economic interest to help local scale-up companies to overcome their challenges”.

This report investigates the potential boost to the UK economy if we could enable as many small companies to grow large by the implementation of support mechanisms as has been achieved in 20 other countries.

Entrepreneur and investor Coutu also argues that closing the ‘scale-up gap’ is the single most effective thing that leaders in government, business and academia can do to drive economic growth.

Figures from RBS suggest that closing the gap would create 238,000 additional jobs and an extra £38 billion within three years.

Where to focus

Coutu believes that the UK can create tech businesses the size of Facebook or Google, but suggests “we need to be more effective at identifying the companies that have the greatest potential”. She insists throughout that we must do everything we can to help those companies grow.

The report reveals five key areas that must be focused on to help ‘scale-up’ businesses grow:

  1. Talent shortages
  2. Leadership capacity building
  3. Accessing customers in home markets and overseas
  4. Accessing the right combination of finance
  5. Navigating real-estate moves more easily

The full  Scale-Up report is available online.

Enter your e-mail address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

  • James Hutchison

    Million or Billion? Several orders of magnitude.

    • Dylan Baker

      Hi James,

      It’s billion. Thanks for highlighting that.

Editor's picks

Tech and banking

How tech is shaking up the world of banking
posted 7 hours ago

healthtech hospital nurses doctors

Here’s what Google, Apple and Microsoft are up to in healthcare
posted 12 hours ago

Lystable

Freelance management app Lystable closes £8m Series A led by Valar Ventures
posted 15 hours ago

men

At least 26 London-based tech entrepreneurs ‘have lost out on funding’ since Brexit
posted on March 23, 2017

Deloitte

Deloitte: Blockchain can transform emerging ‘trust economy’
posted on March 22, 2017

Alex Macpherson, Octopus Ventures

Octopus Ventures raises £120m to invest in UK AI startups
posted on March 22, 2017