Scotland's Tech Sector Back In Growth Mode
New research from ScotlandIS has revealed that Scottish tech businesses bounced back in 2021, with 72% of companies reporting increased sales. This marks a return to pre-pandemic levels of sales growth reported in 2019, after a significant drop last year (44%).
In its annual Scottish Technology Industry Survey, ScotlandIS reports that tech businesses are expecting to reap rewards from growth in data analytics, artificial intelligence, and the Internet of Things, but the largest increase in potential growth opportunities has been seen in cyber security. A third (31%) of Scotland’s tech businesses are now seeing it as an opportunity in the year to come.
Whilst the sector is on a positive trajectory, exports are in decline. Last year saw a four per cent reduction in exports to 56%, and one in five Scottish tech businesses have no plans to export this year. Of those planning to export, key markets are Europe (68%), Rest of the UK (77%) and North America (60%).
The survey also found that talent continues to stay in high demand across the industry and with wider impacts of a skills shortage across most sectors, this issue is becoming increasingly challenging for the industry to manage. Efforts to support businesses on the talent shortage will continue to be a priority this year as it remains one of the top barriers – alongside pandemic recovery – to achieving ambitions in the year ahead.
- Diesel prices reach record of over £1.80 a litre
- UK Global Screen Fund receives £21m extra funding for three-year extension
- Energy bills shake-up plans to avoid price shocks
- Land and Property Market Survey
- Here’s The Plan…to a realistic, affordable sustainable future
- Rental market at its ‘most competitive’ ever
- Support for fishing and coastal communities
- Public encouraged to take part in National Parks consultation
- Global Business Dinner to showcase the best of Scotland
- Travelknowhow Scotland are delighted to be able to extend their FREE consultancy support package throughout 2022/23
- It’s the people of Perth’s chance to have their say on BBC Debate Night
- New Digital Skills Academy - applications open
- Perth Festival of the Arts
- Auto Services Perth Ltd sponsor Perth Racecourse for the 2022 season
- Electric models drive second-hand car sales higher
- Morrisons rescues McColl's taking on all 16,000 staff
- Inflationary pressure poses huge risk to Scottish businesses
- Focus on tackling the cost of living in Queen's Speech
- New UK sanctions for Russia and Belarus
- UK Capital Allowance Regime - Consultation
- Additional £4 million for the Young Person’s Guarantee
- Latest FPMC funding round announced
- SCC Quarterly Economic Indicator Survey Q2 2022
- Azets global SME leaders growth conference - 12th May