New data from accountancy firm shows the region recorded the third highest number of new tech businesses in the UK in 2017, after London and the South East. Tony McDonough reports
Merseyside and the North West saw an almost 30% surge in the number of new digital and tech companies in 2017, new data shows.
Research by accountancy firm RSM reveals there were 707 software development and programming businesses incorporated in the North West region in 2017, a 29% increase on the 550 companies set up in 2016.
The region recorded the third highest number of new tech businesses in the UK in 2017, after London and the South East.
Nationally, there were 10,016 technology businesses incorporated in 2017, with year-on-year rises recorded in every region in the UK. The figures validate the Chancellor’s recent claim during the Spring Statement speech that a new tech firm is set up in the UK every hour.
Jonathan Lowe, technology lead at RSM in the North West, said: “These figures show the region’s tech sector is growing at a very healthy rate despite the fears of a post-referendum slowdown.
“There are a number of reasons for this. The region’s universities are playing a key role in developing and nurturing exceptional talent and the country as a whole is continuing to attract the world’s brightest and best.
“The North West has had a number of recent technology success stories and this is leading to real momentum in the growth of the sector.
“Entrepreneurs are able to gain good access to finance, either through traditional sources of debt at relatively cheap rates, or from venture capitalists and private equity funds.”