New research shows business is booming for tech SMEs

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59% of tech SMEs report business growth, Crunch survey reveals.

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almost 60% of small and medium sized IT businesses reporting strong growth in the last 12 months

The UK’s tech industry is thriving, with almost 60% of small and medium sized IT businesses reporting strong growth in the last 12 months, survey results* released today from online accounting firm Crunch Accounting reveal.

The survey of technology business owners and key decision makers found that almost a quarter (24%) have experienced an increase in work availability of up to 50% compared to last year, while more than a fifth (21%) of businesses saw more than 50% growth and 14% said their workload has doubled.

The East Midlands emerged as a clear winner regionally, with more than two thirds (67%) of businesses reporting an increase in sales, while one in five confirmed their workload doubled over the year.

Tech companies in London and the North East are also performing highly, with 66% and 65% respectively reporting growth.

Businesses in Northern Ireland have fared worst, with only a third of tech SMEs experiencing an increase in workload and 18% saying they did not receive any work at all during the time period.

Darren Fell, managing director of Crunch, said: “Countless small business clients have recently told me that their sales are picking up, and this survey proves that our economy, after some very long and dark days, is finally on the mend. It’s great to see that IT businesses, an area where the UK excels, is leading the way to recovery.”

** The survey by Crunch Accounting polled 500 IT workers located across the UK.

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Questions:

Do you think your supply of work has increased compared to this time last year?

  • Yes it has increased hugely (100% or more work) - 14%
  • Yes it has increased significantly (more than 50% more work) - 21%
  • Yes, it has increased (up to 50%) - 24%
  • It has remained stable - 30%
  • It has decreased - 6%
  • I was not working this time last year - 4%

About Crunch Accounting
Crunch is the UK's first and fastest-growing online accountant, combining a team of expert in-house accountants available on-demand with simple online accounting software. Designed specifically for freelancers, contractors and small businesses, Crunch is more than just an accountancy firm – it’s everything you need to manage your finances. Their complete accounting solutions start at £64.50+VAT per month.

Crunch Accounting was co-founded by online entrepreneur Darren Fell and Accountancy Director Steve Crouch, with investment from Bebo co-founder Paul Birch. Former Skype CEO Michael van Swaaij is Crunch Chairman.

Crunch is a UK Top 100 accountancy firm, and one of only two firms in the UK to offer an on-site training academy. In 2014 Crunch was named as one of four firms selected nationally by industry body IPSE as offering an outstanding service for freelancers.

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