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CEOs and CFOs of mid-market firms in the technology, media and telecommunications (TMT) market expect access to financing to improve even if their equivalent managers in other sectors were more downbeat.
The optimism in the TMT sector, measured by Grant Thornton UK LLP in its Finance Flow study, was overwhelming with 76% expecting to see an improving financial environment with only 5% braced for a deterioration.
Wendy Hart, corporate finance partner at Grant Thornton, said that there were several reasons that were producing such strong optimism in the TMT sector.
"Software developers and service providers benefit from the drive to spend in order to save. Moreover, there is pent up demand from both public and private sector customers who lacked the direction or budget to spend back in 2009/10 but now have no choice," she said.
"End users increasingly focus on areas such as efficient data storage, mobility and mobile applications, data analytics and managed services. The fundamentals which are driving growth in overall IT spend have not escaped lenders or investors and the sector is rapidly becoming a 'hot' one," she added.
There are also more mid-market TMT firms considering an IPO as the confidence returns to the market.
The Grant Thornton findings are at odds with recent calls by smaller tech companies to get access to greater amounts of credit. Recent Banbk of England figures have also indicated that the big five high street banks are failing to meet their promises to give more funding to small firms.