Tech SMEs see business boom
The British tech industry is going from strength to strength, according to a report from online accounting firm Crunch Accounting, with nearly 60% of SME IT businesses reported strong business growth over the last twelve months.
The survey polled technology business owners and key decision makers, finding that 24% experienced an increase in work ability of 50% or less when compared with 2013 and 21% of businesses saw more than 50% of growth. As many as 14% of tech businesses reported that their workload had more than doubled over the last year.
Businesses fared well in London but also performed highly in the North; companies in the North East, for example, saw almost identical levels of growth compared with their contemporaries in the capital.
Darren Fell, managing director of Crunch Accounting 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.”
Words: Peter Cribley