A survey has revealed that one fifth of technology companies hascut research, development or expansion plans with a quarter reducing their marketing budget in the last year.

The research comes from Big Four firm Deloitte which has released a survey on technology companies in the UK, looking at their financing, operational and working capital concerns over the last year.

The 'When the crunch bytes' survey of the 50 fastest growing technology companies, highlighted that around one in six of the 150 executives questioned believed managing external relationships as their chief operational challenge.

The report, based on entries to the firms Fast 50 Awards of the 50 fasted growing technology companies compares 2008 results with 2007, said: 'Companies must monitor their working capital position closely, not just receivables and not just at period and year ends.'

'Working capital encompasses a number of functions across the business and is most effectively monitored and managed on a day-to-day basis,' it added.

The biggest financial concern, unsurprisingly, over the last two years has been funding.

Credit control continues to be seen as the biggest challenge for working capital. Other challenges for working capital include reliable forecasting which saw a significant fall in the number of people who viewed as a priority to just 6% of respondent against 20% last year.

Of the 150 respondents 41% were very confident in growing the company in the next 12 months, 32% somewhat confident, 24% extremely confident and just 3% as pessimistic.

Further reading:

When the Crunch Bytes – a survey of fast-growing UK technology companies