West Midlands tech start-ups increase by 40%
The number of new tech companies being set up in the West Midlands rose by 40% in 2020 according to latest figures.
Audit, tax and consulting firm RSM said that in total there were 821 tech businesses incorporated in 2020 according to data held by Companies House, a 40% increase compared with 585 in 2019.
Amy Burton, head of RSM’s technology and media team in the West Midlands, said: “Despite the acute impact of the Covid-19 and lockdown restrictions, it’s encouraging to see such strong growth in the West Midlands tech sector as entrepreneurs seize the opportunities that the pandemic has revealed for technology to support new ways of working and digital entertainment.
“In 2020, the UK attracted $15bn in investment and sits third internationally for tech incubations according to the latest Tech Nation report – demonstrating that the UK continues to stride ahead of other European countries, despite Brexit, and remains the first-choice tech hub after the US and China.
“The UK will always be a target for investment due to the financial and private equity infrastructure; but it’s great to see growth in the West Midlands where there is a thriving and diverse tech industry with the Software Development, FinTech and Gaming sectors fuelling regional growth.”
