According to the latest report, the UK tech sector has ramped up investment spending plans amid the strongest growth spell since the onset of the financial crisis.
This sustained period of top line growth in tech business activity has happily been achieved within a relatively benign cost environment helping to ensure solid profitability. Importantly, this good news story looks like it will continue in the year ahead with many tech companies planning to loosen the purse strings to hire staff and raise capital expenditure. Our data also shows UK tech business activity closely matches the movement in the NASDAQ, suggesting that the perceived six to 12 month lag of UK tech behind the US may be an urban myth.
For the first time since 2007, we are also seeing a welcome upturn in Tech IPOs which we hope signals the beginning of a comeback of tech companies to the London bourse, something that will be important in convincing tech start-ups that the UK is the right place to be. The tech sector is often seen as a leading indicator of UK business activity and this latest Tech Monitor report would suggest continued optimism for the next 12 months.
View the infographics by clicking the image above.