Richard Carr, a Commercial and Residential Development consultant based in the south east of England, is delighted at the recent news that Bournemouth is the UK’s fastest-growing region in the digital economy, as reported by the telegraph.co.uk.
Digital economies booming outside of London
The average perception of Bournemouth is one of sand, sea, and the Pier! How many people would have put the coastal resort town down as being the home of the country’s fastest-growing digital economy?
The majority of outsiders wouldn’t have, but those that reside and operate in the area are well aware of the burgeoning digital hub that is being created in the town.
74% of the UK’s digital firms are now based outside of London with Bournemouth, Liverpool and Brighton emerging as the industry’s runaway leaders.
The Telegraph’s article is based on research conducted by Tech Nation, which highlighted that inner London has been overthrown from its place at the heart of the industry by Bournemouth.
Coming from a very low base, digital start-up incorporations have risen 212% between 2010 and 2013 in the town.
Growth in New Digital Companies (2010 – 2013):
Below are some statistics from the report that highlight Bournemouth’s rise as a top digital economy:
- Bournemouth: 212%
- Liverpool: 119%
- Inner London: 92%
- Brighton and Hove: 90%
- South Wales: 87%
Digital beats the recession
Whilst other sectors struggled during the economic crash, 50% of all the digital companies in the UK were launched after 2008. As a result, the majority are still classified as small businesses.
The UK is currently home to more start-ups than ever before. Last year, more than 500,000 new companies were created, up from 484,224 the year before.
Digital technology companies formed in 2013 and 2014 as a % of total companies:
- Bournemouth: 24%
- Liverpool: 21%
- Brighton and Hove: 20%
- Inner London: 20%
- South Wales: 17%
Baroness Shields, the chair of Tech City UK and digital adviser to the Prime Minister, said the onus is now on the Government to make sure that policy supports these growing firms.
“12.4pc of our GDP is attributed to technology and digital business, that’s the highest in the G20. We are the most digital nation in the world and it is important that government policy makes the most of this enormous potential.”
Fantastic news for the local economy
Resident of the area Richard Carr believes that it’s great news for the whole area and believes that the regions appeal makes it attractable to new business.
The conurbation of Poole-Bournemouth-Christchurch is sat between the New Forest and the Purbeck Hills and then there are the many beautiful beaches and of course Poole Harbour! This is great news for the economy of the area has gets Richard’s thumbs up.