UK tech start-ups to create 20,000 jobs as VC investment surges
London and South East responsible for creating more than half of advertised positions with King, Viagogo and Onefinestay some of the biggest hirers
A significant increase in venture capital investment is predicted to contribute to the creation of 20,000 jobs at British technology firms this year, according to research from Adzuna – the jobs site founded by Young Gun Andrew Hunter.
The findings report that UK tech start-ups are currently advertising 12,000 positions, 80% growth on the number of positions posted last year.
As the home for many large tech companies; London and the South East are creating the majority of jobs, with more than half (51%) of tech jobs advertised in the capital, and 14% in the surrounding areas.
North West and Eastern England are the next largest job creators, at 7% and 6% respectively – followed by the South West and West Midlands, both responsible for 4% of advertised positions.
The East Midlands and Scotland create 3% of tech jobs each, with Yorkshire and Humberside, North East, Northern Ireland and Wales creating an equal share of the remaining 8% of advertised positions.
Adzuna looked at one million job adverts posted on its site at more than 1,000 tech firms, analysing their hiring patterns over a number of years. Developer of Candy Crush; King, ticketing company Viagogo, and hospitality business Onefinestay were cited as some of the biggest hirers.
Investment in the UK tech sector hit record levels this year, reaching £459m in Q1 2015 – following record-breaking investment into London-based tech companies from US investors in 2014, at $795.2m. This April also saw a post recession high in the number of job vacancies in the UK.
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Hunter commented: “These exciting new figures show that the technology space in the UK has never been hotter. Start-ups in the UK are raising money like never before and this is leading to significant job creation around the country and, similarly to Silicon Valley, UK tech companies are now able to stand toe to toe with the City competing for Britain’s top talent.”