Cheltenham risks losing its science and tech firms due to talent shortages, according to new a report released today (October 13).

The UK risks an exodus of some of its most promising science and technology businesses, according to the report. Almost one in six (16 per cent) have firm plans to relocate overseas over the next three years and 88 per cent have considered it.

Building a Future for Science and Technology, by Cheltenham-based multi-discipline property and construction consultancy Ridge and Partners, suggests a key driver of this discontent is the Government's lack of understanding of the sectors' needs.

The Government's limit on employing overseas talent is a big issue, with the policy adversely affecting 27 per cent of the companies interviewed. The lack of a science minister in Liz Truss's cabinet further illustrates a lack of Government interest in the sector.

The 103 science and technology companies across the UK studied for the Ridge report also cite problems at a local level, raising issues for local authorities, city planners, and science parks:

• A fifth complain their current premises are not accessible by public transport
• A further 16 per cent say wider transport links aren't good enough to attract the talent they need
• A lack of affordable local housing is a problem for more than one in five (22 per cent)
• 49 per cent are not sure their current premises will meet their future needs, rising to 78 per cent among smaller companies
• A fifth feel their premises are not attractive or environmentally sustainable enough

These issues are impacting on recruitment and therefore growth. Over a third are struggling to fill crucial support roles such as lab technicians and admin staff, who are massively affected by local housing costs.

Meanwhile, almost half (48 per cent) are having difficulty filling more senior roles. These issues have become so pronounced that almost a third (31 per cent) report they need to be nearer a larger pool of talent. For many, that may involve moving overseas.

Liz Sparrow, partner, science and tech lead at Ridge and Partners, said: "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 per cent 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."

Ridge's research also highlights how highly dependent small and large science and technology-based businesses are on each other. That's why 31 per cent want to be located nearer to other science/ tech businesses and almost one in four (24 per cent) want to be closer to major academic institutions.

But the good news for Cheltenham is that many of these issues will be overcome by the opening of the new Cyber Central, part of the Golden Valley Development.