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Home » Business News

New government must support fast-growth companies or risk stalling economy, market leader warns…

Submitted by on May 8, 2015 – 7:20 am |

Paul Statham, founder, MD and CEO of CondecoThe next government must do everything they can to support fast-growth companies or risk damaging the economy, a founder of one of the UK’s fastest growing tech company has warned. The warning comes as a new report revealed that UK technology firms’ hiring has a reached a record high despite the industry reporting slower growth in business.

The tech sector employment index rose to 57.8 for the first three months of the year, up from 55.3 for the final three months of 2014, according to the tech sector UK business activity index published by consultants KPMG and financial information firm Markit.

Paul Statham, CEO of London-based technology company Condeco Software, a global leader in workspace utilisation technology has achieved an annual turnover of $25m and created new wealth and jobs in 10 years of rapid growth, said: “It is vital that the next government does everything it can to empower businesses with access to the skilled workforce they need to fuel expansion, regardless of who is in power.

“It is looking increasingly likely that the new government will be a coalition and it is imperative they do not take their eye off the ball – they must focus on nurturing talent and supporting innovative businesses to drive growth if the UK is to remain competitive on the global stage.

“Fast-growth businesses like Condeco Software offer the UK so much in terms of growth and job creation, and mid-size businesses now contribute £165bn[1] to the UK’s GDP, up 33 per cent in five years.

“The importance of these businesses is made even clearer in the tech sector, with UK technology companies’ hiring reaching a record high.

“Whichever parties emerge in power when the dust settles, fast-growth businesses need to be made a priority or they risk impairing these hugely successful companies’ growth, which would have a knock-on effect on the economy and job creation.

“The establishment also need to ensure that they do everything they can to stop the impending skills shortage. It should be a priority for the next government to enable our young people to fulfil their potential as our next generation of professionals and leaders.

“Opportunities such as apprenticeships are enormously beneficial for young people and businesses alike, and should be a central policy in both keeping youth unemployment down and ensuring future economic growth.”

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