Life science leaders believe the coalition government will improve the business environment in their sector, according to a survey published today by ST&I (Science, Technology & Innovation) Partners.

However, the survey, which was sponsored by executive search and interim management specialist RSA, also highlights that leaders remain downbeat about the UK’s ability to compete effectively for global investment.

The ‘UK Life Science Leaders’ Survey 2010’, based on the responses of 390 key leaders from across the life science and healthcare industry in the UK, reveals that eight out of 10 (82%) general managers (GMs) felt the coalition would have either a positive or very positive impact on general business conditions.

Yet many GMs also report reduced access to funds and the effect of public spending cutbacks on medicine prices as key concerns.

Redundancies and site closures were cited as contributing to staff attrition and a reduction in morale, with talent retention and availability of skilled workers also a key issue facing GMs in the coming two years.

Tarquin Bennett-Coles, director of RSA Interims, says: “The UK is falling behind competitively, so strategies that allow companies to use the talent and resources we have are needed more than ever.

“Collaboration between academia, NHS and industry needs to be fostered and incentives – and access to funding – put in place to encourage this.”