We’re delighted to update you on the Tech Monitor UK report we produced with financial information company Markit last October.
Tech Monitor UK is our most up-to-date source of UK tech sector data and analysis and will be published on a quarterly basis. It reveals that the UK tech sector has generated solid job creation rates over the last four years.
The key data from the recent report found:
- Sharpest rise in UK tech sector business activity since early 2004.
- UK tech companies report fastest improvement in profitability for six years.
- Solid rate of tech sector job creation maintained at the end of 2013.
- Almost 44 percent of UK tech firms plan to hire more staff over year ahead, while 7 percent expect a fall.
- Around twice as many UK tech firms (27 percent) intend to increase capital expenditure in next year as those expecting a reduction (13 percent).
Each quarter, a special section of the report will take a closer look into the UK regions. This edition focuses on tech employment clusters in the East of England with a particular emphasis on Cambridge.
We would welcome the opportunity to discuss the results with you. Please feel free to contact me directly or feed comments back through our mailbox.
Tudor Aw, Partner
Technology Sector Head