Creative Industries deliver record growth for UK Plc | FAST

Creative Industries deliver record growth for UK Plc

Feb 2015

By the current Government’s own measurement the UK’s Creative Industries are now worth a staggering £76.9 billion a year, accounting for 1.71 million jobs in 2013 – a full 5.6 per cent of the entire working population in the UK. The tech sector in its own right is now worth £58 billion. This is a sector that is reporting strong and sustained growth year-on-year with over 60 per cent expecting a rise in business activity and both employment prospects and profitability on the up.

Plainly, the software sector cannot be ignored as somehow just the preserve of large global multinationals. As we have seen with the growth of tech clusters in London, Cambridge and the North East, technology is a creative powerhouse born and bred here in the UK that needs constant nurturing within a policy and legal framework that will enable it to continue to flourish. The UK economy is made of an increasing number of small technology businesses; notably 95 per cent of the 120,000 enterprises in the information economy sector employ fewer than ten people. This entrepreneurial community needs a strong legal structure to discourage IP infringements and offer a backbone of support.