Bright Future for UK Cleantech Companies

THE UK’s cleantech companies are feeling optimistic about the future, according to research released today by the UK’s Carbon Trust with 77 percent planning to expand workforce in next year.

Defying the wider economic uncertainty, the UK’s cleantech companies have become more confident about their prospects in the last year with more than three quarters looking to recruit in the next 12 months and over a third (37 per cent) planning to expand into new export markets in the next two years.

The companies surveyed listed their own growth prospects, technical strength, current sales pipeline and market position as the key factors driving this optimism. Government legislation and policies were also given as reasons for confidence.

However, fundraising is essential for growth and 29 percent of the companies interviewed cited a lack of access to finance as the main obstacle to expansion. This issue is even more acute for smaller companies (revenues of less than £2 million) where the number of companies concerned about access to finance rose to 40 percent.

Overall, about one in five companies indicated they would consider moving their HQ from the UK mainly owing to funding problems they believed would be less of a problem in other countries but the respondents felt that UK led the way as a base for a cleantech company, with Germany and the US close behind.

The research, commissioned by the Carbon Trust and conducted by the Cleantech Group, is the most comprehensive survey of UK cleantech companies this year. It provides insights into the confidence of the British cleantech sector, looking at a range of issues including growth prospects, the place of the UK in the global cleantech market and technology leadership.

Tuesday 19th April 2011

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