Tech Nation comments on Chancellor’s furlough scheme extension and importance to tech sector

|May 12|magazine2 min read

Mike Jackson, Entrepreneur Success Director, Tech Nation comments: “The UK tech and founder community is one of the most collaborative in the world. Many collaborative tech projects have sprung up in response to the pandemic. And many tech companies have been crucial to help us navigate the coronavirus, from homeworking solutions to healthtech.

“We therefore welcome the Chancellor’s announcement to extend the furlough scheme through until October.

“This type of intervention has been invaluable to many of the UK’s tech companies who have struggled with cash flow in the immediate term and needed to rely on this measure to retain staff. According to our most recent Tech Nation survey, 38% of companies have furloughed staff, with only 6% having made staff redundant, which is significant. 

“We believe this is the right move, to get the economy back on its feet. And we’re optimistic about the UK’s tech economy continuing to thrive.”