Tech Nation report reveals strength of UK technology clusters
Digital job growth expected to outperform all other occupation categories by 2020
The prime minister has welcomed the launch of the first in-depth analysis of the UK’s digital technology clusters, Tech Nation – an interactive data project to analyse the growth of digital clusters across the nation.
The survey of more than 2,000 businesses was developed and curated by the government backed Tech City UK, in partnership with DueDil, and reveals the positive impact the digital sector is having on the UK economy.
Some of the most significant findings in the report are that digital job growth is expected to outperform all other occupation categories by 2020, with 7.5% of the entire UK workforce currently employed in the sector.
74% of digital companies operate outside the capital, with Bristol & Bath, Reading, Greater Manchester and Leeds showing the highest rates of digital employment, and Brighton & Hove, Inner London, Edinburgh and Cambridge having the highest density of digital companies.
Additionally, Greater Manchester, Bournemouth, Brighton & Hove, South Wales and Bristol & Bath have the highest average company turnover.
The report also revealed that 50% of digital companies in the UK have been founded since 2008, with the fastest growing tech clusters since 2010 being Liverpool, Inner London, Belfast, Greater Manchester, Bournemouth, Brighton & Hove, South Wales and Bristol & Bath.
Finally, 90% of companies expect their revenue to rise in 2015 and 77% say they benefit from access from access to a network of entrepreneurs whom they can interact and share ideas with.
Baroness Joanna Shields, chair of Tech City UK and digital adviser to the prime minister, said: “The UK is recognised on the world stage for its tech and digital strengths. Today’s report reveals the depth of the sector and the complex array of skills, specialisms and strengths that truly make us a Tech Nation.
“The unprecedented level of detail and analysis of business starts, revenue and job growth give us a first hand view of the clusters and businesses that make up the UK digital economy. We are a Tech Nation and we hope this project will inspire innovation and growth for years to come.”
While DueDil founder, Damian Kimmelman, commented: “The data from the Tech Nation interactive online guide shows that the opportunity for digital to change the economy isn't just coming from tech giants such as Google and Amazon.”
View the report in full here.