As you prepare for the New Year, it’s a good time to re-evaluate and refocus your business growth plans, since last year was a hugely successful year for the UK tech industry.
There were great gains and innovation in the FinTech sector, while British startups have shown innovation on a global scale.
2018 promises to bring more recognition and market attention to various sectors e.g. DataTech, PropertyTech and InsurTech, with innovation in these sectors set to improve. UK tech has reached new heights on an annual basis, and there are clear signs 2018 could be the best year yet.
UK economy in 2018:
Despite concerns around the Brexit negotiations, the FinTech sector has been healthy, due to support from VC funding invested into the UK tech firms. London & Partners, supported by Mayor of London’s office has been equally supportive of taking UK tech firms global.
Steady growth tempered by the weak pound, which will help exports and cheap credit will allow consumers to keep calm and carry on, but it won’t be plain sailing. The British Business Bank should play an important role in the tech investment sector, if it becomes apparent the European Investment Fund has closed its funding.
World class Tech Hub:
The UK remains a world-class tech hub due to the investment inflows and growth of the various tech sectors. This ensures that startup growth in the UK lays a good foundation for scaleup and expansion to global markets.
Britain’s tech sector remains a world leader with enduring strength and serves as a source of optimism and encouragement for the new year.
Mind the Talent Gap:
While investment is set to break new grounds in 2018, the UK tech space will continue to struggle with the talent gap. This appplies especially to recruitment of minority groups, while UKBlackTech is making great strides to improve this sector.
LBAcademy has a focus to work with partners, in the UK tech sector, to provide a viable business ecosystem to help founders flourish!!