Software developers enjoy booming business

Out-Law News | 23 Nov 2001 | 12:00 am |

A recent survey has shown that, in contrast to the general economic downturn, UK software developers are enjoying a booming business. Deloitte and Touche’s Fast 50 survey which identifies the 50 tech companies achieving the highest growth turnover found that some software developers have enjoyed hundred-fold increases in revenue since 1998.

The survey found that over one half, 29 out of 50, of the fastest growing technology companies in London and the South East are software developers. The study said:

"…the status of the London & South East region as a leading world technology centre is strengthening with each year… the technology population is growing, and a number of quality independent companies in the region have grown up alongside multinationals which play a key role in training and attracting a skilled workforce to the area."

According to the Fast 50, the fastest growing tech firm in the region is InferMed, a medical software developer which has enjoyed a growth in turnover of nearly 5,000% since 1998, increasing from £25,000 in 1998 to £1.19m in 2000.

The release of figures for the South East begins Deloitte and Touche’s nationwide analysis of the fastest businesses in the UK.