Manchester Tech Sector Continues To Thrive
The UK tech industry is well and truly booming, and it has been for several years now. From Glasgow down to London, and everywhere in between, the tech sector continues to thrive, with lesser known areas such as Halesowen where Intouch Games are based also impressing. With that being said, Manchester has fast become a global tech hub too, and this is again great news for the UK tech sector.
Outside of London, which many would describe as the UK’s main tech hub and one of the world’s finest, Manchester is the city with the most digital tech workers. It has rapidly become a thriving tech hub, with its success built on both it’s resourcefulness and ability to adapt. This has seen billion-dollar companies like clothing firm boohoo, online retailer AO.com and global health, beauty, fitness and lifestyle company THG, call the area home.
It’s not just established businesses which are thriving in Manchester are also enjoying increasing success too. The decade between 2006 and 2016 saw the digital tech sector grow in a steady manner, with an increase of 130% per year where new businesses were concerned. However, things have really taken off since then, with hundreds more start-ups coming to the fore.
Last year alone saw in excess of £200m raised by start-ups in the city, with the funding of great benefit to companies such as health tech specialists Push Doctor, mHealth and eLucid. Other start-ups like Shieldpay and TickX also benefitted from the money injected. It’s just another sign that the Manchester tech sector is thriving and on the up, with the city’s influence only going to continue to grow as time goes on.
Tech Nation, a UK network for ambitious tech entrepreneurs, have listed the top 100 fastest growing tech firms in the North, and it will come as no surprise that Manchester hosts 5 of the top 20. In Touch Network sits in first place, a company which specialises in ecommerce and marketplace services. They’re a network which assists with the hiring of both board members and senior freelance professionals.
Also making an appearance in the top 20 is global social media marketing agency Social Chain, payment solutions firm AccessPay, IT consulting company Resulting and social media and entertainment specialists LADBible. The rest of the top 100 is littered with tech firms from Manchester and the surrounding areas, showing just how influential and dominant the city is in the sector.
The thriving tech sector is also proving brilliant for other industries too. Due to Manchester having so many tech workers employed in and around the city, it has seen the housing market begin to boom too, with many now labelling Manchester as the “Next Silicon Valley.” Rent yield has continued to grow, and if the tech sector continues to on this upward trajectory, these numbers will likely keep increasing too. Manchester is a global player when it comes to tech, on a par with some of the biggest tech cities around the world.