In a survey on corporate deal-making published recently, consulting and accounting firm EY has revealed that Britain is the top investment destination in the world for the first time in the report’s 10-year history — overtaking the United States, which has held the top spot since 2014.
Furthermore, as well as the figures revealed by EY, Chinese investment into European tech has quadrupled. After such an announcement, many experts have disclosed how this news in a pre-brexit period would affect business throughout the UK. We have brought Mark Brownridge, Director General of the Enterprise Investment Scheme Association, to hedgethink to share with us his insights about that:
“This huge jump in foreign investment into European tech from China shows that the technology arena is clearly still a hugely attractive investment opportunity. The drive to back tech companies is something that the Enterprise Investment Scheme has been focusing on in the last few years, with the increased funding limit for ‘knowledge-intensive’ businesses in line with the Government’s modern industrial strategy. Supporting investment into small tech-based businesses is hugely important to the UK’s private sector and SME economy.”
The expert also wanted to add that it is clear that despite Brexit uncertainty surrounding Europe and the UK, there is no slowdown in appetite for the investment opportunities that exist, especially in the fast growing tech sector. Investor confidence is key to the funding of growing businesses in the UK especially in the SME arena.
“Funding for technology businesses in the UK is a key area of discussion for the businesses we work with. Whilst increased investment from overseas is positive for the majority of the business arena, it is important that we do not rely on it in supporting high growth UK-based small businesses,” he concluded.