UK Tech SMEs leave other sectors behind

financingAccording to recent report by Tech City UK, digital businesses are growing 32% faster than companies in other sectors.

A collaborative effort from innovation charity Nesta and data specialists GrowthIntel, Tech Nation 2016 reports that digital tech is also boosting national employment figures – accounting for an estimated 1.56 million jobs. What’s more, the report finds that growth in the digital sphere has generated high paid opportunities, with the average salary coming in just under £50k.

“The UK’s credentials as a home for digital excellence have been well established” says Eileen Burbidge, Tech City UK chair and partner at Passion Capital. “Now Tech Nation 2016 provides a new level of insight into the impressive productivity of our digital economy – driving growth across all sectors and regions of the country”.

Even Prime Minister David Cameron had something to say after reading the reports findings.

“Britain’s world leading tech sector gives us a competitive edge that is not just transforming our daily lives but also our economy. Tech is transforming the way we do all kinds of business.”

“More than half of all digital jobs now aren’t in high-tech hubs of London or Leeds – they are in businesses of every description, in every sector. This government will continue to back, with all levers at our disposal, the innovation, creativity and entrepreneurship that is redefining and strengthening the modern British economy”.

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