Skills shortage an increased concern for the tech sector

Technology firms are more concerned than ever about the potential threat a lack of availability of skills poses to their growth prospects, with new figures showing that job vacancies are growing.

The past year has seen a 24.3 per cent rise in the number of unfilled positions in the information and communication technology (ICT) sector, the Office for National Statistics (ONS) data shows, and there are now more vacancies than those looking to fill them.  

Beyond the immediate economic uncertainty, the tech sector faces the disruptive impact of potential government curbs on immigration, which will make recruitment even more difficult, universities battling to keep pace with the rapid changes within the sector, and increased cybersecurity threats, requiring a skilled workforce to handle them.

When it comes to business interruption, SMEs are not adequately prepared for possible external shocks to their businesses from both internal and external threats. By implementing continuity plans, small firms can prepare for many of the sudden changes that can impact on them directly and their supply chains.

Business continuity planning is a collective responsibility and it is essential that SMEs take the necessary steps to protect themselves accordingly. Click here to find out more and make sure your business is protected.

Being centrally located within walking distance of London’s ‘silicon roundabout’, our business experts at Beavis Morgan specialise in working with SMEs and entrepreneurial people in the tech and creative sectors, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.

If you would like to find out more about how we can assist you and your SME business, contact Steve Govey or your usual Beavis Morgan Partner.

Further reading: SMEs must consider supply chain disruption in business continuity plans