Sheffield Top Ten tech firms going for £10bn turnover
Sheffield’s top 10 tech firms are closing in on £1 billion annual turnover after growing 50 per cent in the last five years, with a rise of over 50% in employees.
The figures have been calculated by Dr Andrew Johnston, principal lecturer at Sheffield Business School, part of Sheffield Hallam University. He said: “The continued growth of the digital tech sector in Sheffield is good news for the economy. These firms generally provide skilled jobs for the region, providing employment opportunities for well qualified workers, particularly graduates of the city’s two universities.
“Also, these companies generally sell their services to the rest of the UK, Europe, and the world, putting Sheffield on the map worldwide as a centre of creativity and innovation in technology sector.
“The top 10 tech companies now account for 40% of employment in the sector; five years ago, they accounted for 21%, highlighting their increased importance to the fortunes of the sector.
“Total employment in Sheffield’s tech sector has grown by 17.8% in the past five years, again showing that the largest companies are driving this employment growth. “Businesses in this sector now directly employ over 7,500, but also support many more jobs across the rest of the city in terms of their purchase of goods and services from other local firms, as well as their employees spending their money in local shops and restaurants.”
Last month, the Sheffield Digital report stated there were 21,000 people in creative and digital jobs in the city. Commissioned by the University of Sheffield and the city council’s business arm, Creative Sheffield, it surveyed 54 companies. It also found that digital companies in the city were experiencing fast growth, with turnover increasing by 38 per cent annually and the majority of firms planning to take on staff. Last year, Dr Johnston analysed the top 25 technology companies in Sheffield City Region and revealed they bring in £2bn-a-year.
With thanks to Dr Johnston and the Sheffield Star