May 18, 2018
UK technology sectors continues to outpace rest of the economy, and not just in London
The UK’s digital technology sector continues to grow faster than the rest of the economy, according to the latest Tech Nation Report for 2018. Turnover of digital tech companies grew by 4.5 percent between 2016-17 compared to UK GDP which grew by 1.7 percent over the same period. This means that the tech sector grew at 2.6 times faster than the rest of the economy. At the same time the number of jobs in digital tech rose five times the rate of the rest of the economy, demonstrating how the digital tech sector is one of the best performing sectors in the UK economy. 2017 proved to be an amazing year for the UK digital tech sector with some of the biggest fundraisings and exits seen in years, as international investors flocked to fund UK-based firms, according to the report. British digital tech companies raised £4.5bn in venture capital investment during the year, almost double the previous year.
Over half of UK workers (53 percent) say that the standard of technology is a key consideration for accepting a new job role and more than 1 in 3 (37 percent) would decline a job based on poor hardware alone, claims a new survey. The survey of over 2,000 British adults carried out by gadgets and technology e-tailer, LaptopsDirect.co.uk found that having the latest technology was valued more than other office perks, such as flexible working (45 percent), the working environment/decor (39 percent) and staff discounts (33 percent). Nearly a quarter of respondents (74 percent) overall, believe technology makes them more productive at work, with workers in marketing valuing technology the highest, with 84 percent of the votes, followed by those in creative and photographic (81 percent), information and communications (78 percent), professional services (73 percent) and education (71 percent).
The majority of North American office workers expect their employers to provide technology that allows them to work from wherever they choose and three quarter of employees (74 percent) would rather leave their job to work for an organisation that would allow them to work remotely more often, even if their salary stayed the same. This is because working remotely has moved from being a work perk to a necessity of 21
Some individuals within local government are holding back tech to preserve the status quo – a new survey suggests. According to the research, these people feel threatened by new technology and believe it will be disruptive to their ways of working. While the survey by 8×8 of staff working in local government suggested a significant appetite for new technology, more than a fifth (22 percent) say certain individuals are holding back tech adoption to preserve the status quo. This view is more prevalent amongst those in IT procurement, where more than a third (35 percent) believe colleagues are standing in the way of technology because it will disrupt what they already have in place. Only 51 percent of respondents believe senior management understand the importance of new technology and just 21 percent think they invest enough money to stay up to date with the latest developments. This contrasts with the private sector, where over half (56 percent) believe there is sufficient investment in new technology.
