By Daniel Hunter
The UK’s tech industry is booming, with almost 60% of small and medium sized IT businesses reporting strong growth in the last 12 months, according to online accounting firm Crunch Accounting.
The survey of technology business owners and key decision makers found that almost a quarter (24%) have experienced an increase in work availability of up to 50% compared to last year, while more than a fifth (21%) of businesses saw more than 50% growth and 14% said their workload has doubled.
The East Midlands emerged as a clear winner regionally, with more than two thirds (67%) of businesses reporting an increase in sales, while one in five confirmed their workload doubled over the year.
Tech companies in London and the North East are also performing highly, with 66% and 65% respectively reporting growth.
Businesses in Northern Ireland have fared worst, with only a third of tech SMEs experiencing an increase in workload and 18% saying they did not receive any work at all during the time period.
Darren Fell, managing director of Crunch, said: “Countless small business clients have recently told me that their sales are picking up, and this survey proves that our economy, after some very long and dark days, is finally on the mend. It’s great to see that IT businesses, an area where the UK excels, is leading the way to recovery.”
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