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March of the 10,000: UK tech industry delivers significant growth PDF Print E-mail
Monday, 22 June 2015

Driven by technology innovation and the release of pent-up demand for new IT systems and services, the UK technology industry, including software development, IT services and hardware sales continues to go from strength to strength, according to new analysis from Creditsafe, the world’s most used provider of company credit reports.  In 2014, the number of companies in the technology category grew from 136,775 to 146,279, a rise of almost 10,000.

A further indicator of the growing health of the technology industry is that less than 1% of  companies in the sector (1,143) appear in Creditsafe’s high risk banding, compared with 15% (20,467 companies) a year ago. 

Although the technology industry appears to be in good health, Creditsafe’s analysis shows that it pays to check out potential suppliers and partners before committing to doing business with them.  The total value of outstanding County Court Judgements (CCJs) currently held against technology companies is just over £7 million, while 1,711 technology companies have either outstanding or satisfied CCJs held against them.  The average value of CCJ held against technology companies is £4,134.

Rachel Mainwaring Operations Director of Creditsafe said: “Everyone’s talking about the contribution that clusters such as Tech City and Silicon Fen are making to the economy, but there’s also a huge, established IT services industry dedicated to ensuring that corporate IT systems are implemented, supported and maintained so that businesses operate efficiently and cost effectively.

Demand for IT professionals is on the rise, indicating that organisations are now in a position to invest in technology to innovate business processes as well as address security and regulatory challenges.”

In such a large and diverse industry sector no one ‘household name’ company stands out in terms of being the business most searched for by users of Creditsafe’s credit report services over the last year, but the three most searched for technology companies offering IT business services to organisations were Softcat, Capita Business Services and Technology Services Group.  The next most searched for business in the sector was Splitsec Ltd, which entered into insolvency on Friday 13th February 2015.  

When it comes to the most searched-for directors TV personalities and business leaders with links to the technology sector in their business portfolios take the lead, with call centre supremo Neville Wilshire and reality show stars Alan Sugar, Peter Jones and James Caan taking top spots alongside perennial favourite Richard Branson.

(Source - Creditsafe Press Release)


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