Cleantech companies in the U.K. are feeling optimistic about the future, according to new research released by the Carbon Trust. Defying wider economic uncertainty, the U.K.'s cleantech companies have become more confident about their prospects in the last year, with more than three quarters of these companies (77%) looking to recruit in the next 12 months and over one-third (37%) 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.
The research also found that the U.S., France and Germany were ranked as the top three export markets today. Of the businesses planning to expand their exports into new markets in the next two years, the U.S. and Europe were ranked as the top two export targets, followed by China.
Overall, about one in five companies indicated they would consider moving their headquarters from the U.K., mainly due to funding problems they believed would be less of a problem in other countries.
Fundraising is essential for growth, and 29% of the companies interviewed cited a lack of access to financing as the main obstacle to expansion. This issue is even more acute for smaller companies, where the percentage of companies concerned about access to financing rose to 40%.
SOURCE: Carbon Trust