Kreston UK survey shows positive outlook in the Technology Sector


Thursday, April 4th, 2013

uktechsurvey
Kreston UK survey shows positive outlook in the Technology Sector

A survey of over 2,000 UK technology businesses published this month shows a sector buoyed by its strengths in the development and commercialisation of technology but equally aware it is operating in uncertain times.

The study included the earliest stage pre-revenue spin-outs to larger businesses employing over 100 people, with revenues in excess of £20 million across a range of technologies from IT and Telecoms to Life Sciences, Nanotechnology and High Value Manufacturing and focused on the views of contributors on state assistance and how they were finding the economy.
sue staunton
Sue Staunton, Deputy Chair of Kreston ‘s Global Technology Group and Partner at the UK member firm, James Cowper LLP, said:

“UK – Overall, the picture painted by our survey is a positive one. The UK is still considered by our respondents to have great strengths in the development and commercialisation of technology with key attributes thought to be the quality of the UK’s academic base and its entrepreneurial environment. Despite these strengths however, the technology sector in the UK is continuing to operate in uncertain financial times. Amidst concerns that we are heading for a triple dip recession our respondents in the technology world remain relatively positive about their businesses and the areas they are operating in.

Globally – The technology sector has led M & A activity during 2012, outpacing the performance of other sectors with significant deals such as the Facebook acquisition of 750 patents from IBM; the Google acquisition of Motorola Mobility and HP’s acquisition of Autonomy”.

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