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Scotland's Tech Sector Back In Growth Mode - Perthshire Chamber of Commerce

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.

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