A survey has revealed that the number of technology companies based in the West Midlands has increased by 25% in the last five years.
The survey, which was carried out by Markit Tech Monitor and KPMG, puts the West Midlands at number four on the list of the largest regions for businesses in the tech sector, with tech businesses forming 6.8% of all companies in the area. Ahead on the list are London, the South East and Eastern England.
The city of Warwick has seen one of the fastest rises in the number of technology businesses since 2014, with an increase of 28%. Coventry and Solihull have also seen a large increase in the number of tech businesses at a time when the government and the private sector have been investing heavily in services such as new business broadband networks.
The research shows that manufacturing and automotive tech businesses are strong in the region. Mike Steventon, the Midlands regional chair for KPMG, said that a strong tech sector is vital for the UK and that the growth of the region in terms of tech businesses is a very good sign for the future. He believes that more can still be done to encourage further growth in the region.
Mr Steventon is calling upon the government to ensure the issues that affect tech businesses are prioritised. These include investment in the relevant infrastructure, including the provision of superfast business broadband; the right regulatory frameworks; and investment in STEM subject education.