UK confidence
Tech leaders are confident of growth in the UK
A year after Keir Starmer’s Labour government was elected, we asked how confident businesses felt about growing under his administration. Our survey shows that Labour’s pro-tech messaging is cutting through with business leaders.
76% of respondents feel more confident in their business growing under the current government. For businesses interested in becoming a public company, there is much stronger interest in listing in the UK (57%) than in the US (26%).
feel more confident in their business growing under the current government
UK companies still look to the US for opportunities
Despite the new President’s headline-grabbing economic policy changes, almost all UK tech businesses (86%) are more positive about trading with the US than they were last year.
The technical collaboration opportunities on offer (35%) and the market demand (31%) were cited as the key positives. For all the headlines generated by the US’s tariffs, only 29% of respondents said tariffs and trade regulations were an influencing factor in their view of the US.
Main factors influencing trade with the US
are more positive about trading with the US than they were last year
Momentum in Europe’s tech market
Our survey showed that respondents feel positive about Europe. More respondents considered it strategically important than the US (61% vs 58%). And when asked about future listing plans, more respondents would be interested in listing in Europe than the US (36% vs 26%). Europe’s maturing tech market is attractive to UK businesses looking for funding or new markets to sell their products.
Do businesses have future plans to become a public company?
Our view
Collaboration opportunities in the US continue to attract UK tech businesses, and it remains a crucial market for expansion. Though the funding landscape has diversified, UK tech still leans heavily on US capital. As such, businesses should continue to monitor US economic policy and the impacts of tariffs as they evolve.
Europe is also emerging as a promising market, maturing as a tech hub with better access to funding and a growing talent pool. UK tech businesses looking for the skills and capital needed to fuel their growth plans could turn towards Europe as an alternative to the US.
Looking ahead to 2026, workforce stands out as one of the most significant challenges for tech leaders to navigate. Encouragingly, confidence in the domestic market remains strong. Recent enhancements to the R&D tax scheme mark progress, but sustained government action will be critical to securing long-term competitiveness and cementing the UK’s position as a global technology leader.
