U.K. tech firms expect strong 2015

TECHNOLOGY

London cloud


Mobile executive? VB is hosting our 5th annual Mobile Summit on February 23–24 at the scenic Cavallo Point Resort in Sausalito, CA. See if you qualify here.


U.K. tech firms are set to grow at four times the rate of GDP this year with experts predicting a stellar year of growth ahead.

The prediction was part of the Barclays’ Fast Growth Tech survey which canvassed owners and CEOs of U.K. tech firms about their expectations for the year ahead.

Those surveyed anticipate a strong year for tech with average growth levels of 11 percent expected during 2015 and 15 percent during 2016.

Over half (58 percent) of those surveyed expect to see their businesses grow by up to 10 percent over the next twelve months while 18 percent are expecting growth of between 10% and 20%.

Sean Duffy, managing director and head of Barclays’ Technology, Media and Telecoms team, said the predictions highlight the optimism and drive that currently surrounds the UK’s world-leading tech sector.

Commenting on the results of the survey Duffy said:

“The fact that many firms are expecting further growth in 2016 shows that this trend isn’t transient and the UK is a real launch pad for innovative tech businesses.

“Investors are seeing the UK as an international talent magnet and a platform to grow or launch their business for a number of compelling reasons, including the culture, light-touch regulation, supportive government policies and access to finance.”

This story originally appeared on Tech City News.

 


Like this story? Want to learn more? On February 23–24, our fifth annual VentureBeat Mobile Summit will tackle 6 big opportunities for business to leverage mobile to grow. The invitation-only Summit will gather the top 180 executives at the scenic Cavallo Point Resort in Sausalito, Calif., to discuss issues like this. Request an invitation.





VentureBeat

Products You May Like

Articles You May Like

Warning as Putin could trigger Europe-wide gas crisis by strangling key supply –UK at risk
Tokyo 2020 on brink as Japan capital sees highest daily surge in Covid cases since January
US wildfires mapped: Apocalyptic wildfires burning – where are fires now?
Freetrade senior analyst explains ‘when to hit the sell button’
New income protection scheme for self-employed launches – are you eligible?
LEAVE YOUR COMMENTS