Tech businesses still hopeful of growth despite COVID-19

According to a recent survey published by ScotlandIS, the digital technology sector in Scotland had increased sales and profit margins during 2019 and despite the challenges faced due to the COVID-19 pandemic, many businesses have identified areas for continued growth over the rest of the year.

The survey showed that cloud servicing, connectivity and remote working were areas where businesses expected increased demand due to new customers required to work from home.

Over 70% of those that responded to the survey expected their number of employees to either stay the same, or increase as the year progresses.

Dougie Rae, Head of EQ Technology, commented,

“It is great to see such a positive attitude across this sector, and their ability to adapt and seek out new sales streams is a terrific example to all businesses.

“Of course, getting access to government support, be it the Coronavirus Job Retention Scheme or through the Coronavirus Business Interruption Loan Scheme, is vital for all businesses and we are here to help anyone with their applications.”

For support in finding the appropriate grants and loan funding available for your business, please email our EQ Technology team on technology@eqaccountants.co.uk.