The resilience of the region’s tech sector has been highlighted by figures showing that the number of new technology companies incorporated in the East of England leapt by 31 per cent to a record 3,730 last year - the largest increase across the UK - and up from 2,853 previously.
Laragh Jeanroy, office managing partner, RSM Bury St Edmund, said: “The tech ecosystem in the East of England provides a great environment for early-stage businesses to thrive, with access to cutting-edge ideas and research, funding, and collaboration. So, it will come as no surprise that the region is leading the way with a record increase in the number of new technology companies incorporated in the year - a trend we expect to see continue.”
National data shows a total of 51,017 tech companies were incorporated in the UK last year, up 22 per cent from the year before. Key sub-sectors that saw significant growth included software developers, data businesses and IT consultancies. Tech incorporations in London rose by more than a quarter on the previous year’s figure to 26,060.
Ben Bilsland, partner and technology industry senior analyst at RSM UK, added: “The rise in tech incorporations shows there is cause for optimism in this key industry….. But the sector has, and continues to be, marked by layoffs, so it may be that these members of the workforce have been confident enough to go it alone, thereby fuelling incorporation growth.” He also pointed to AI as a driving force behind UK tech incorporations.
