The average revenue growth amongthe 50 fastestgrowing technology
firms isrunning at over 2000%, despite the credit crunch.
Business advisorygroupDeloitte has published its
Fast 50 awards, which rank the fastest growing technology
companies in the UK.
"In spite of the challenging financial market conditions, the
2008 Deloitte Fast 50 shows that stellar growth rates are still
possible," said Deloitte.
Companies across the IT sector believe that the market they
operate in will not shrink as a result of the credit crunch, the
research reveals.
Communications software supplier Thunderhead was the fastest
growing firm with 28,558% growth. The company's software
enablesfirms to manage customer communications across various
channels such as voice, e-mail and the web.
It is
used by companies including Prudential to help them comply with
regulations relating to how customer communications are
managed.
"The 2008 Deloitte Fast 50 provides a fascinating view of the
evolving structure of the UK's tech sector, with software and
internet businesses making up the bulk of the fastest growing
companies," said David Halstead, partner at Deloitte.
"While their products and services are at the extreme cutting
edge of global technology, it is important to note that it is not
just technology that makes these companies leaders in their
sectorsit is about the quality of the people and their intellectual
property."
The top five companies include picoChip, a semiconductor
manufacturer specialising in wireless,
OB10, which has an e-invoicing service and digital marketing
agency Bigmouthmedia.