Investing in IT hinted to be best bet

There has been a great deal of market support for the continuing success of the Scottish Technology Sector; which a number of sources say is down to the current upsurge in the variety of markets now sourcing IT requirements.

With a number of businesses turning to IT to help reduce costs and increase efficiency the IT & Telecommunications sector has now climbed up to become one of the top four sectors for growth in 2008.

As focus is continually shifted across those markets that are less reliant on using debt there is now shown to be a substantially lower risk speculation, further demonstrated by this years Scottish Technology Survey, sponsored by 9-20 recruitment in partnership with Scotland IS.

With results demonstrating the spread of export markets currently enjoyed by the industry in that 43% of respondents reported sales to Europe and a further 25% also generated sales to America, this shows predictions made at the start of 2007 of 45% and 25% respectively were achieved, all in the face of the current economic downturn.

Whilst analysing current industry characteristics this years survey also reports the technology sector to be extremely ëcash positiveí with ë42% of respondents reporting additional funding as ìnot applicableî in 2008í.

On hearing such a cash positive response from a market where the majority are looking to grow their sales by 20-50% this shows that survey response supports the aforementioned current investor interest in ICT.

The Regional Director of Commercial Banking for The Royal Bank of Scotland also agreed with the surveyís positive findings, saying that, ìRBS welcomes the continuing profitable growth in the Scottish Technology Sector.î

Wendy McDougall, Managing Director of the IT recruitment specialists 9-20 recruitment comments on the current investment in the Scottish IT market, ìWe have seen substantial commitment from a number of large, multi-national, financial organisations such as Barclayís Wealth, Morgan Stanley and JP Morgan who have reported their intention to hire hundreds of qualified, skilled IT professionalsî.

Cash positive funding, growth predictions and international market potential; all very positive reasons for backing technology in the investment race, particularly at a time when there are fewer horses to back.