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Small IT firms set to create at least 84,000 jobs this year

Karl Flinders

Small and medium-sized IT suppliers expect to create at least 84,000 jobs this year, research from Barclays Bank has revealed.

A total of 20,000 apprenticeships could be created, Barclays said.

Barclays is warning that although some IT companies will record double-digit growth, lack of business planning could scupper their prospects.

"Despite the recent challenges, IT businesses are forecasting near double-digit growth. However, almost half are failing to formulate a formal business plan," said Barclays.

The research, which questioned the heads of 331 IT firms with a turnover up to £1m, is part of a Barclays campaign and business ideas competition known as Take One Small Step.

Barclays is offering £50,000 to each of the best 10 ideas.

Steve Cooper, managing director of Barclays Business, said, "Local businesses, including smaller IT companies and consultancies, are the backbone of Britain's economy.

"It is important for us to recognise and support their ongoing efforts in such challenging market conditions."


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