BRITISH technology firms are defying the recession according to an industry survey published yesterday, with businesses planning on expanding through the economic downturn.
The sector has performed strongly in recent months with 51 per cent of company bosses saying their business prospects improved over the past six months, and 34 per cent saying prospects were unchanged.
That led to 60 per cent of firms in the sector increasing their level of investment, according to the study from industry body Intellect UK.
Similarly 67 per cent expect to expand their businesses, with 43 per cent saying there are very likely to recruit new staff.
A total of 81 per cent of business leaders back George Osborne’s aim to make the UK “the technology centre of Europe,” the study found, but 66 per cent said the government does not understand the sector.
“There is clearly a divide between how confident business leaders feel about the prospects for their own business compared to the economy as a whole,” said Intellect UK’s deputy director general Anthony Walker.
“However, if the storm clouds gather again across the wider economy these gains could be quickly lost.”