Manchester Tech Firms Take the Lead
More than 50% of small businesses in Manchester are now tech-led, Yorkshire Bank reveals.
20:21 09 July 2019
A recent survey conducted by Yorkshire Bank has revealed that more than 50per cent of small businesses in Manchester are now tech-led – a proof that they enjoy faster growth compared to their offline counterparts.
The study also revealed that the success of the tech industry in Manchester has started luring talent and graduates away from London.
The city’s secrets to success has been revealed at the recently concluded Festival of Technology and Innovation event held at B Works – Yorkshire Bank’s flagship SME, retail and co-working hub. The city boasts four strong universities and a strong graduate pool. Its international airport, on the other hand, has helped attract big banks, ecommerce and fintech companies.
Patricia Keating, whose team at Tech Manchester work with early stage tech businesses to educate and help secure funding, said: “Manchester has a large start-up rate, and a thirst for entrepreneurialism,”
“You just have the look at the skyline. There’s more cranes and construction work going on here than the likes of LA and Atlanta.”
Gavin Opperman, Group Banking Business Director at Yorkshire Bank, said: "It’s perhaps not surprising that Manchester fares so well in the research results,"
"Organisations like The Growth Company are generating investment and growth in the area, and business hubs are helping Manchester SMEs (small businesses) to reach their full potential.
"The University of Manchester and Manchester Metropolitan University both run programmes that support entrepreneurs and local businesses by offering access to research, facilities and academics."