Project Start presents: New Tech businesses surge in the UK
In 2020 nearly 20,000 technology businesses were started in the Information and Communication sector in the UK. Job creation from the tech sector is also growing rapidly, according to government figures, job vacancies in the information and communication sector reached 116,000 in the first week of March 2021, significantly up from the 85,000 roles advertised in January.
In February 2021 111,000 tech jobs were advertised and averaged salaries in the IT sector reached £54,726 compared with £51,219 12 months ago.
Data analysed by Tech Nation on behalf of the Department of Digital, Culture Media and Sport (DCMS), based on figures from the Office of National Statistics and Companies House show that 19,465 new businesses were registered in the UK tech sector between January and December 2020. This is the equivalent of a new tech business launching every 30 minutes!
The UK digital secretary, Olivia Dowden, said: “Back in 2018 a new tech business was formed in the UK every hour. We said we wanted to double that rate and we have. Tech will lead the way in helping us build back better and it’s fantastic to see so many people kicking off new businesses and creating thousands of jobs across the country.”
The tech sector has been one of the few to come out stronger on the other side of the coronavirus storm, thanks to the acceleration of automation and remote-working tools that have allowed businesses to operate throughout this pandemic. According to Tech Nation, the 10 start-ups that raised the most capital in 2020 were all in industries deemed critical during the pandemic such as e-commerce.
Crunchbase records show that $5.7bn was invested in startups formed in 2020 across the world, check the statistics out here: https://www.crunchbase.com/hub/startups-founded-in-2020
Digital adoption accelerated as people were asked to work from home, creating many opportunities for many startups and scaling tech businesses.
Tech startups UK
The office of national statistics shows that business births were strong across all UK regions. While most tech businesses were born in London (107,310), followed by the South East (54,730), North West (43,420), Yorkshire and Humber (25,270) and the South West (26,520).
The technology sector is thriving
Now 1 in 10 advertised job roles is now in the information and communication sector according to figures composed by Adzuna for Tech Nation at the end of 2020. This sector covers software development, applications, web building, computer programming and consultancy.
Overall, for such an unsettled year the tech sector seems to be thriving. Employment across this industry has increased by 11% in the space of two years to almost three million. This also includes non-tech roles such as legal, marketing, HR and Administration which make up more than a third (37%) of employees in the digital tech sector.
How can Project Start help new tech businesses in the UK? Project Start are invested in supporting our Technology clients with over 20 years experience of recruiting in some of the most highly regulated industries, such as AI, Design, Robotics, 3D Printing and other emerging technologies.
As your Recruitment Partner, we adopt a very transparent and ethical way of working.
We understand that technology and projects are ever-changing, so we are constantly updating our knowledge base from candidates, clients and the projects we work on.
If you have any enquiries about moving forward with a technical recruitment agency and how Project Start can be a reliable and trustworthy Recruitment Partner, then please get in contact with us on 01454 529009 for any of your and Technology needs.
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