New Businesses: Economic Growth
The question
To ask the Secretary of State for Business and Trade, how many UK technology company acquired by foreign buyers were of (a) pre-revenue startups and (b) companies with revenues (i) under £10 million, (ii) between £10-50 million and (iii) £50 million in the last three years; and what assessment he has made of the implications for his policies of UK scale-ups being acquired before reaching their full growth potential.
Answered by Blair McDougall
The statistics requested are not readily available. The Department for Business and Trade is supporting the next generation of start-ups and scale-ups, aiming to create the UK’s first trillion-dollar technology business by 2035. The Industrial Strategy and Digital & Technology Subsector plan set out how we will achieve this. They set out a whole-of-government approach to the sector, reforming the business environment for digital and technology companies and addressing their needs for greater investment, skills, infrastructure, regulation and access to international markets.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →