UK tech firms are more worried about sales growth than the
credit crunch, says accountant and consultant BDO Stoy Hayward.
A BDO survey of the
UK's fastest-growing privately held technology companies has
revealed that 40% felt that maintaining sales growth during 2009 is
the biggest issue they will face.
This was followed by a quarter (26%) highlighting that
recruitment and retention issues would be keeping their chiefs
awake at night.
Julian Frost, head of technology at BDO, said, "In the current
climate many would be astounded that the financial crisis was not
the number one issue facing technology chiefs - as it is certainly
top of the agenda for a significant number of UK company heads.
"However, given the ambitious and entrepreneurial nature of the
individuals behind these businesses - many of whom have not worked
through a recession before - it is not surprising that sales growth
comes so high up the agenda."
The issue was particularly prevalent, because on average these
firms have grown at a rate of more than 80% over the past year, he
said.
The research identified that only 16% of the UK's
fastest-growing technology companies felt that the commercial
downturn was the biggest issue they would face this year.
BDO Stoy Hayward surveyed 50 of the 100 fastest
growing-technology private companies in the UK. These companies
were identified by The Sunday Times Tech Track 100.