Barclays tech managing director urges industry to develop outside London

The Boardroom

by Jimmy Nicholls| 25 April 2014

Costly offices and quality of life should prompt expansion in the regions.

Sean Duffy, the managing director of Barclays Technology, Media & Telecoms team, has called for further expansion outside of London in the wake of costly office space and quality of life.

A survey conducted by the bank revealed that 70% of tech firms planned to increase wages in 2014, with 40% struggling to find skilled employees, a finding that is consistent with a recent report from Tech London Advocates.

"With space and costs at a premium, a lack of talent isn't the only problem facing London's tech sector," Duffy said. "Now, there are plenty of other places in the country poised to stake a claim as the innovation capital of the British Isles."

A report from the EU Commission named London as the second strongest tech hub in Europe, with Munich taking the top spot. Cambridgeshire attained fifth place overall, with Edinburgh and Oxfordshire also performing well.

Duffy noted that London tends to offer higher wages, but when cost of living was considered employees could be attracted to other parts of the country where better quality of life was more affordable.

"It is the universities that often act as the catalyst for innovation and have played key roles in developing regional technology hubs," he said.

"There is now an opportunity to create a network of highly connected, highly specialised regional tech hubs in the UK that take advantage of local talents and resources."

Comments
Post a comment

Comments may be moderated for spam, obscenities or defamation.

Join our network

734 people like this.
0 people follow this.

The Boardroom Intelligence

Buy the latest industry research online today!
See more

Suppliers Directory

Privcy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.