Over the last 12 months, our surveys have shown a UK tech sector that has consistently outperformed the wider economy, recording its best growth performance in almost a decade and importantly, is actually creating job growth in an era of ‘jobless economic recovery’.
Key data from the third quarter of 2014 also revealed:
- New business growth remains strong, despite slowing over the summer
- Job creation rebounds in Q3, while employment growth softens across wider UK economy
- Stronger rise in payroll numbers supported by accelerated staff recruitment at small tech companies
- Almost two-thirds (62%) of UK tech companies anticipate a rise in business activity over the year ahead, while only 8% forecast a decline
- Expectations for business activity over the year ahead are far more buoyant than the UK-wide benchmark
Key findings from the special feature mapping tech clusters across UK regions and local authorities:
- Reading tops the table for the largest footprint of tech enterprises in the local private sector business population
- The M4 corridor, retains its place as the geographical area with the deepest concentration of tech companies
- London tops the UK regional table for concentration of small tech companies in the local business population
- The South East attracts the greatest proportion of larger tech firms. job hiring.
View the infographics by clicking the image above.