'Building a Future for Science and Technology', a research report recently released by Ridge and Partners, has revealed that almost one in six (16 percent) science and technology businesses have firm plans to relocate overseas over the next three years, and 88 percent have considered it. What has sparked this exodus? Well, the obvious answer is, of course, the dreaded 'B' word (you know the one). Since we left the EU, the Government's restrictions on recruiting overseas talent have had a significant impact on STEM companies, adversely affecting 27 percent of the 103 companies surveyed. But that's not all: there are also several issues facing the sector at a local level. The lack of public transport, available suppliers and affordable housing - as well as the struggle to meet sustainability targets - are all obstacles impacting businesses' ability to function efficiently within the UK. Liz Sparrow, Partner, Science and Tech Lead at Ridge and Partners, says: "There's no lack of ambition or opportunity for growth within the science and tech communities. Indeed, the companies we studied expect to grow by 52 percent over the next three years. "But they need to be in the right environments to grow in this way - that means places with the right infrastructure, transport links, housing, and premises to attract the partners, suppliers, and talent they need."
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