How willing are UK business leaders to take risks? Nearly half of CEOs and business owners (47%) in the UK now say they are more willing to take risks than a year ago, according to research commissioned by ECI.
Although appetite varies sharply by sector, we see technology businesses the most confident, with 58% reporting a higher appetite for risk, followed by HR companies (57%). The research, which saw responses from over 300 business leaders in the UK, has also found that confidence increases with company size, with more than half (57%) of businesses with over 500 employees saying they are more open to risk than last year.
Cost pressures remain the dominant challenge
Despite improving sentiment, rising costs remain the single biggest concern for UK businesses, cited by one third of respondents. Digital transformation (14%), the perceived threat from AI (13%), and regulation and compliance (11%) also feature prominently.
Different sectors have also shown different priority levels when it comes to challenges. For healthcare businesses, digital transformation is front and centre (71%). Rising costs are a particular concern in technology (44%), while talent shortages are most acute in healthcare (40%).
Good prospects for private equity investment
The findings point to a robust outlook for private equity, with 57% of businesses currently considering PE investment, with interest being strongest among travel companies (69%) and technology businesses (67%).
International expansion firmly on the agenda
Confidence is also translating into ambition with 84% of medium-sized businesses now considering international expansion as a growth driver in 2026.
When it comes to funding international growth, private equity and venture capital come out on top (35%), ahead of government grants (26%) and bank finance (23%). Medium-sized companies surveyed are most likely to be considering private equity for international expansion (40%) with those in the travel industry particularly interested in using private equity to expand overseas (50%), followed by financial services (47%).
Businesses value expertise as much as capital
When asked about the benefits of private equity, respondents highlighted sector expertise and networks (32%) above all else, followed by technology and AI expertise (28%), international reach (18%) and access to talent (10%).
Tom Wrenn, Managing Partner at ECI, commented: “This research is what we like to see as investors – positive sentiment from UK business leaders with a renewed appetite for risk, especially amongst tech CEOs. What is particularly striking is the number of management teams actively considering private equity as they look to expand internationally and navigate the shifting sands of GenAI. We see this from the Founders and CEOs we speak with, who are looking for experience and expertise from their partner to navigate the growth opportunities ahead of them. Across five decades of investing, we’ve refined a repeatable value creation model, which is one reason many CEOs look to partner with ECI. The findings underline that businesses increasingly see PE as a strategic partner, not just capital.”
