2013 was a good year for the UK’s technology sector, and the steady gains of the past 12 - 18 months look set to continue throughout 2014. The impact of this excellent performance can be seen not only in improved profitability for individual tech companies, but also in greater confidence throughout the sector, which in turn is driving strong job creation and increased investment. And the scale of the tech sector has now reached such a size that this growth is having a strong positive impact on the UK’s balance of trade
Exports in computer and information services
The UK leads the way amongst the G7 nations as an exporter of computer and information services, and it’s a trend that the technology sector as a whole is keen to support. At the end of 2013, the UK’s technology trade association Intellect relaunched as TechUK, immediately revealing plans to help the sector create an additional 500,000 jobs by 2020. It sounds a bold target, but when you take into account the new opportunities in China and emerging markets around the globe, it begins to look feasible.
TechUK have formed a partnership with UK Trade & Investment (UKTI) with the aim of enhancing the sector’s ability to identify and exploit new export opportunities. As a first step, TechUK has created a trade support programme which seeks to help 1,000 tech firms grow their exports by 2015. TechUK is also working to affirm London’s position at the centre of the European technology sector.
Tech City and Silicon Fen leading the way
It’s clear that the technology sector is emerging as a major engine of growth for the UK economy. It is driving employment, attracting inward investment, boosting exports and supporting the UK’s international trade balance. And although this activity is centred around London’s Tech City and the regions covered by the M3, M4 and M25 motorway networks, other areas are also seeing the benefits of the growth in the UK’s tech sector, not least Silicon Fen.
As the growth of the tech sector gathers pace and more young companies seek to engage with new markets in order to maintain high growth rates, the importance of recruiting talented executives and senior managers becomes apparent. And as with any high growth industry, when the demand for talent exceeds supply, competition to attract experienced leaders becomes fierce, and that’s when the services of a specialist technology executive search firm can pay dividends. Stone Executive is an experienced technology head-hunter with a strong track-record in technology executive recruitment. Our recruitment consultants work closely with many of the UK’s most dynamic technology companies, and they have long-standing relationships with some of the brightest talent in the sector. This gives us a unique ability to engage and recruit the kind of people who have played a leading role in delivering the strong performance of the past few years.
Our close ties with leading employers and professional bodies provide us with a unique view of developments across a variety of industries. Through regular e-newsletters, we are able to share these insights with our clients and candidates, providing valuable news and information about their specific sectors.