UK tech start-up numbers are on the rise

(Image credit: Image Credit: Bbernard / Shutterstock)

It seems that issues surrounding Brexit haven’t had much of an impact on IT and technology companies in the UK. New figures are showing that the number of such companies rose in London, but elsewhere in the country, as well.

According to new figures from tax company RSM, the number of new software and development companies opened in the UK in 2018, and it shows an increase of 14 per cent.

In total, 11,864 new software development and programming companies were set up last year, compared to 10,394 the year before.

London has seen the bulk of those – 4,752, or a 14 per cent rise. The South East was placed second with a two per cent rise and 1,398 companies, while the North West got 1,079 new companies, or 48 per cent up.

The North West has thus seen the highest growth of any region in the UK.

The only place where the number of tech companies actually declined is Scotland (four per cent down), while the North East has had flat figures.

“Given the current economic uncertainty, it's fantastic to see that tech start-ups have continued their upward trajectory,” said David Blacher, head of RSM’s technology, media and telecoms team.

“While the rate of increase didn't match 2017 when we saw a 60 per cent jump, the numbers show that entrepreneurs are continuing to innovate and venture capital, private equity and traditional funders are still lining up to commit funds to the right projects.”

Image Credit: Bbernard / Shutterstock