The booming tech start-up industry has largely welcomed the Conservative party’s victory at last week’s General Election but concerns remain over broadband speeds, business taxes and technology in the school curriculum.
Prime Minister David Cameron has long been a supporter of digital start-ups and promised to make the UK the best start-up nation in Europe if his party won the election, which the industry hopes he continues to back.
As a spokesman for techUK, the trade association for digital firms said, the Tories have demonstrated a solid track record on tech but the new Government must build on the achievements so far to make the UK a world leader in the next wave of the digital revolution.
His words were echoed by a spokesman for Coadec, a not-for-profit organisation that campaigns for policies to support digital start-ups in the UK, who said that tech firms are thriving in the UK, in part due to the positive policy environment.
However, he added that in order to capitalise on the advances so far, the new administration must ensure that broadband speeds are as fast as possible and that tech firms have access to the talent they need in order to grow. This can be helped by investing in technology education in schools and ensuring that future generations of innovators and creators are supported to carry on tech growth.
In addition, tech start-ups need practical help and legal advice, particularly around setting up and managing foreign market entities, international tax, licensing and VAT if they are to expand overseas. Currently, help can be difficult to find and there are too many gaps, which entrepreneurs are looking to the Government to plug.