UK Digital Tech Sector ‘Expanding 2.6x Faster’ Than Rest Of Econom
Brands looking to make their mark this year may want to see what new technology they could harness in order to get that all-important leg up on the competition, given new research revealing that the UK’s digital tech sector is expanding nearly three times faster than the rest of the economy.
This is one of the main findings of this year’s Tech Nation Report, revealing that this particular sector is worth almost £184 billion to the economy, up from the £170 billion in 2016.
It was also found that London is the second most connected tech ecosystem around the world, only behind Silicon Valley. Some 25 per cent of entrepreneurs globally say they have a significant relationship with two or more others based in our capital city.
Interesting, however, while the digital tech sector’s workforce is older than you might think and also more ethnically mixed than the typical workplace here in the UK, gender diversity is significantly lower. Investors, founders and entrepreneurs in the industry all face the same challenges no matter where they’re based in the UK, with 83 per cent affected by access to talent. Access to funding was also found to be a top three challenge for 49 per cent.
Areas of digital technology found to be of particular interest at the moment were revealed as being artificial intelligence, while different cities in the country appear to be developing their own specialisms – such as Manchester, where blockchain is taking centre stage increasingly.
In the foreword to the report, chief executive of Tech Nation Gerard Grech said: “The UK’s digital economy has seen astonishing growth over recent years. But it has also experienced challenges, some shared by the economy more broadly.
“Amongst these, of course, is the UK’s changing relationship with the EU. Like the Tech Nation team itself, however, the tech communities we surveyed this year remain resolutely optimistic about the resilience of the UK’s digital ecosystem.
“So as we power into that future, we must support founders, investors, international talent and our homegrown digital workforce. We should continue helping them to connect, learn and share – to ensure the UK remains the best place to start and scale world-class digital businesses.”
While you may not be a digital startup or run a tech company, you can still benefit hugely from the different technology at our disposal these days. For example, making the most of digital marketing services can really help to make your business grow, whether that’s through advertising or something as seemingly simple as redesigning your website.
These days, it’s all about the internet where business is concerned and this is where people go to find products and services – so if you haven’t got an established presence online, you’ll find your company can only go so far before stalling. Think about your email marketing campaigns, your presence on social media, whether you’re on the first page of search engines… we bet there’s scope for improvement somewhere.
To find out more about how we can assist you with digital marketing in Cheshire, and elsewhere. visit us today!