As the Prime Minister Boris Johnson said in the forewords of the Tech Nation Report 2021, ‘necessity is the mother of invention,’ and he muses that despite Covid, or perhaps because of it, the UK’s tech sector is one of the world’s leading centres.
Gerard Grech, Chief Executive of Tech Nation, also reflects on the impact of Covid, pointing out that ‘History has many examples of periods of enormous challenge being followed by a surge of creativity.’ He continues that COVID has instigated a raft of new innovations in the UK, with investment in the sector being a particular shining light.
Good news hasn’t always been easy to come by over the last 18 months so it is wonderful to read of the ‘huge progress’ taking place in the UK tech sector and this reflects what an exciting and interesting time it is for our industry.
There is so much new technology that is coming on stream, that we are learning about and that we can help our customers to implement in order to make their working lives more productive.
A glance at uktech.news and the headlines are full of tech businesses who have attracted investment. From Crypto, to AI, Fintech to Cybersecurity the sector is buoyant and afloat with new ideas and bubbling with enthusiasm. It really is a very exciting time to be working in technology in the UK.
According to the Office for National Statistics investment in businesses grew by 2.4% during Quarter 2 (April to June), which whilst still 15.3% lower than the pre-Covid levels, they point out that information and communication technology equipment contributed positively to this growth in business investment.
The interesting thing to note is that whilst it was well reported that many businesses invested heavily in IT at the beginning of the pandemic to facilitate remote working, the ONS report indicates new technology investment is continuing to rise.
As well as helping the UK economy(!) there are lots of benefits to your business of investing in new technology. When putting your business case together you may wish to include some of the following reasons, depending which you feel are pertinent to your own situation:-
- Improve productivity and efficiency
- Better and more effective customer service management
- If the tech enables automation of routine tasks, it could save money in the long run
- Staff retention and well-being – if your employees are proud they have the best tech and they have a system which runs smoothly and effectively they will be more productive
- Meet changing business needs
- Establish competitive advantage
- Future proofing
- Ensure your tech is safe and cyber secure
If you are thinking of investing in some technology for your business, whether that be hardware or cloud-based, please do take advantage of our free IT Review and one of our specialists can help you to ensure you are getting the right tech for your business needs.