Posted 12/28/2023, 12:32:00 PM
UK Losing Out as Startups Sold to US, Says Business Bank Head - High-Growth Firms Flocking Overseas
- British startups getting acquired by US companies means UK bears the risk while US reaps rewards, says British Business Bank chair
- UK strong at starting companies but falls behind US in scaling up firms to become large global players
- Nearly 5,000 high-growth UK firms sold to mostly US buyers in past decade
- UK funding ecosystem seen as "broken" and overly complicated for startups trying to raise capital
- UK government expanding pension scheme investment in startups to provide up to £75B in financing by 2030