Tech start-ups on the rise - RSM

The number of new technology companies being set up in the West Midlands rose by 40 per cent in 2020 according to new analysis by leading audit, tax and consulting firm RSM.

In total, there has been 821 tech businesses incorporated in 2020 according to data held by Companies House, a 40 per cent increase compared with 585 in 2019.

Commenting on the findings, Amy Burton (pictured), head of RSM 's technology and media team in the West Midlands, said that the UK is continuing to stride ahead of other European countries in terms of its tech start ups.

She said: “Despite the acute impact of the Covid-19 and lockdown restrictions, it 's encouraging to see such strong growth in the West Midlands tech sector as entrepreneurs seize the opportunities that the pandemic has revealed for technology to support new ways of working and digital entertainment.

“In 2020, the UK attracted $15bn in investment and sits third internationally for tech incubations according to the latest Tech Nation report - demonstrating that the UK continues to stride ahead of other European countries, despite Brexit, and remains the first-choice tech hub after the US and China.

“The UK will always be a target for investment due to the financial and private equity infrastructure; but it 's great to see growth in the West Midlands where there is a thriving and diverse tech industry with the Software Development, FinTech and Gaming sectors fuelling regional growth. ”