TechnologyAccounting SoftwareTech sector is thriving, says Deloitte

Tech sector is thriving, says Deloitte

The UK technology industry continues to flourish, with the eastern region and Scotland coming out on top, despite a shortage of skilled staff.

The UK technology industry continues to flourish, with the eastern region and Scotland coming out on top, despite a shortage of skilled staff.

Deloitte & Touche’s annual national survey of 2000 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 Boo.com 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 per cent in Deloitte’s Technology Fast 50 programme. Eurocall, a telecoms company based in the north of England, bagged second place with a growth rate of 9170 per cent.

Research findings showed that more than three-quarters of companies polled are considering a listing, with London markets being the preferred location. Some 65 per cent of respondents said they did not want the government to regulate the web.

William Touche, Deloitte’s 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.”

First published on accountancyage.com

Related Articles

5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

3w Heather Darnell, Founder of Ask the BOSS
Finance and the tech foundation: what’s needed to deliver impactful business insights?

Accounting Software Finance and the tech foundation: what’s needed to deliver impactful business insights?

3m Workday | Sponsored
Best accounting software for businesses in the UK

Accounting Software Best accounting software for businesses in the UK

3m Accountancy Age, Reporters
Making sense of enterprise tech concepts for finance teams

Accounting Software Making sense of enterprise tech concepts for finance teams

4m Workday | Sponsored
Open Banking: what you need to know

Accounting Software Open Banking: what you need to know

4m Edward Berks, Xero
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

6m Pegasus Software | Sponsored
Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

10m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

10m Alia Shoaib, Reporter