United Kingdom
Tech Monitor UK

Tech Monitor UK 

Tech Monitor UK is a joint report released by KPMG and Markit which looks at the health of the UK technology sector. We first commissioned the report a year ago, focusing on three key questions:
  • How have UK technology businesses performed
  • How confident were they about the business and employment outlook
  • Where are the technology clusters in Great Britain

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. 

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Tudor Aw

Tudor Aw

Partner

KPMG in the UK

020 7694 1265

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