As a constantly changing sector, the UK’s technology industry is continuing to grow and evolve. NatWest’s head of technology, media and telecoms, Neil Bellamy, takes a closer look at performance from the year – and looking to 2016.
The technology sector is a growing part of the economy, annually contributing £125bn (a total 8% of UK GDP) as well as 1.3m jobs.
Lending in the sector has also increased this year – showing an increase in activity and confidence. Compared to last year, our lending to the sector has risen by 9.1%. One area of high activity has been in larger businesses which have seen an increase in M&A activity.
BT’s takeover of EE (which has been provisionally cleared by the Competition and Markets Authority) is set to create a communications giant covering fixed-line phones, broadband, mobile and TV. The takeover more than trebles BT’s retail customers adding the 10 million it already had to EE’s 24.5 million direct mobile subscribers....