Tech sector vibrant and strong, says Deloittes

Deloitte & Touche’s annual national survey of 2,000 companies revealed a high level of optimism in the sector in spite of recent events that have shaken confidence in the industry, such as the demise of and a slump in technology shares.

Data Discoveries, a rapidly growing IT company based in Scotland, beat the best to the leading position with a growth rate of 9307%, in Deloittes’ Technology Fast 50 programme. Eurocall, a telecoms company, based in the North of England, bagged second place with a growth rate of 9170%.

Research findings showed that over three-quarters of companies polled are considering a listing with London markets being the preferred location. Sixty-five percent of respondents said they did not want the government to regulate the web.

William Touche, Deloittes telecoms, media and technology lead partner, said: ‘This year’s survey suggests that the environment for technology entrepreneurs in this country is improving significantly. Longstanding shortage of funding and poor tax incentives are being reversed. Conditions are likely to improve further as a result of the increased taper relief on capital gains tax of business assets.’

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