30 Oct 2009

IT sector 'has SME foundation'

Small to medium-sized enterprises (SMEs) form the foundation of the IT sector in the UK and these companies now need to be supported in order to help the industry recover from the economic downturn, it has been claimed.

SMEs cannot do without larger businesses' investment, but its is the smaller firms which provide the bedrock for growth.

She commented: "We in the UK need to make sure we have got support and the ecosystem, the whole network, that will allow small companies to develop, grow and then remain sustainable."

According to a recent study by IT research firm International Data Corporation, the UK IT sector is expected to create 5.8 million new jobs and more than 75,000 new businesses over the next four years.

Furthermore, IT spending is expected to grow at triple the rate of gross domestic product growth in the 52 countries covered by the research.