The UK has a thriving software industry with start-ups, niche suppliers and global players all producing software for UK and international users, says analyst TechMarketView.
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Richard Holway, chairman at TechMarketView, said, "A combination of organic and inorganic growth has resulted in the top 50 UK headquartered software companies growing 20% in the last year." He said the UK industry also earns 70% of its revenues abroad.
While the UK does offer a number of global software firms, namely Autonomy, Misys and Sage, the majority of software companies provide for vertical sectors in the UK.
The UK is also good for software start-ups according to Anthony Miller, managing partner, TechMarketView. He said the BBC's Dragon's Den has encouraged people to become entrepreneurs. "It shows the man and woman on the street how to get a hearing from venture capital firms." Winning funding is relatively straightforward, but Miller sees the biggest challenge for new software firms is gaining management expertise and access to markets.
Top 10 UK-headquartered software companies
• Micro Focus
• Intec Telecom