UK Digital Businesses Play Essential Role in Economy Growth

Image credit: Shropshire Business Today

A study conducted by Tech City UK has revealed that digital technology businesses are playing an essential role in the UK economy's growth. The innovation that this sector is generating is profound with businesses transforming the employment landscape, driving productivity and reimagining traditional industries.

The key findings to note from the report are:

1. Digital technology industries are a key contributor to the UK's economy, growing faster in turnover, GVA and productivity than the rest of the economy.
2. Digital technologies are influencing businesses beyond the technology industry.
3. The digital technology economy are creating well paid employment opportunities, three times faster that the rest of the economy, across the UK.
4. Digital technology businesses are supporting growth across UK cities.

In partnership with Nesta, Tech City UK analysed nationwide data to understand the impact of the digital economy on wider business trends. The report found that the areas with the highest cluster of digital technology companies were benefitting from better employment rates, turnover and average salaries. The report also noted that there has been a surge in digital technology communities with almost 180,000 individuals across the country taking part in Meetups. Networks and face-to-face contact have helped these tech hub areas grow nationally and now the sector has over 1300 active groups in the UK.

Prime minister David Cameron commented: “Britain’s world leading tech sector gives us a competitive edge that is not just transforming our daily lives but also our economy. Tech is transforming the way we do all kinds of business.”

Eileen Burbidge, Tech City UK chair  added: “The UK’s credentials as a home for digital excellence have been well established, and now Tech Nation 2016 provides a new level of insight into the impressive productivity of our digital economy – driving growth across all sectors and regions of the country.”

360ict provides managed IT services and support for SMEs in central London and the south-east, including Croydon and Bromley. For more advice on gaining competitive advantage as a mid-sized company, give us a call on 0208 663 4000. 

Minister Outlines 5-Year Digital Plan for the UK

Image Credit: Digital Catapult Centre

Ed Vaizey has proposed many schemes to make the UK a "tech nation" including driverless buses and virtual reality teaching by Nobel laureates.

The Government's strategy for innovation in digital technology will take place over the next five years and all departments "across government" will be included. Speaking to the Times Ed Vaizey said:  "We want the UK to be synonymous with digital, a place where technology transforms day-to-day life.

"The potential impact is profound. It might mean that the best educators from around the world are made accessible to all - with virtual reality sets bringing Nobel laureates into the classroom. That we can build better houses, faster. That more power is given to to the patient, and the care we provide for our elderly and sick is improved and made more affordable.

"That we use driverless robotic buses in rural communities or help people to find parking places using GPS technology.

"When people want to start a digital business, trial new ways of working or invest in cutting-edge technology, we want them to choose the UK. This revolution is here to stay, and the UK as the 'Tech Nation' is the future we want to build."

Taking inspiration from London's Tech City, which is located in Shoreditch, the plan will seek to expand on it's success.

Self-driving cars have already been tested in the Greenwich, Milton Keynes and Coventry, but it remains to be seen when/if the tests will turn into workable options of the country's transport systems. 

360ict provides managed IT services and support for SMEs in central London and the south-east, including Croydon and Bromley. For more advice on gaining competitive advantage as a mid-sized company, give us a call on 0208 663 4000 or head to our website.