Scotland has retained positive commentary in the mixed bag of media coverage on economic forecasts.
However with the market analysts continually up in arms over the impending depression, the question remains; are we or aren’t we in the midst of an economic decline?
The Third Scottish Technology Industry Survey supported and sponsored by 9-20 Recruitment in partnership with Scotland IS targets specifically the confidence of this years Scottish ICT market.
Offering support to those analyst and press commentary suggestions that the latest financial turbulence is unlikely to affect Scottish jobs, this year’s survey reports that the technology sector should expect a steady growth for 2008.
From the report we see 86% of respondent companies expect to increase their total number of employees, up 6% on 2007.
A third anticipates growing their workforce by between 10 and 25% and a further 7% forecast they will increase their staff by between 25% and 50%.
With the predictions for 2007 from last year’s survey suggested as achievable from the actual results reported for sales and profit from this year’s results, these growth predictions are even more encouraging.
These are not modest predictions either with 38% of respondents predicting an increase in sales in excess of 20%.
The survey results also show Financial Services to be the primary selected market for growth with market activity predicted across all sectors although response does warn of a decrease in activity in both the media and construction markets.
Wendy McDougall, Managing Director of 9-20 recruitment, is encouraged by this year’s findings,
“It is pleasing to see the Scottish technology survey still portraying an optimistic and confident view of the market. If anything we can actually see that the demand for skills is stronger than it was this time last year, in contrast to what several media sources may have reported.”
So although it is easy to be confused by the variation in market predictions, financial risks or safe areas, businesses can at least take heed in the “robustness, ambition and confidence” shown by the growth predictions and retained positive optimism for the upcoming year, all in the face of the current economic downturn.