UK technology companies provide hope as the industry remains strong despite economy wobble
PEG OFFICIAL OF NATIONAL STATISTICS FIGURES DUE OUT 13 APRIL 2011
Official unemployment figures due out in just over a week’s time could well see unemployment amongst Britain’s youth break through the one million mark. Next Wednesday, April 13th, jobless figures from the Office of National Statistics for the 16-24 year olds are expected to reveal unemployment still rising as it has been for several months amid growing concern that this group could become disengaged from the economy, due to the alienation from being long term unemployed. The figures will also reveal whether other worrying trends such as the rise in unemployment amongst women and the over fifties is continuing to worsen.
In spite of the rising unemployment rate, there are some companies that are bucking the gloomy trend and managing to secure exceptional growth, despite the tough economic climate. One company which is living proof and enjoying strong growth is Midlands-based data centres company, Node4, which has increased its workforce by 12% in the past six months and finds young people with their ‘ready-made’ technology understanding highly attractive from an employment perspective. In 2010 Node4 ‘stormed’ into 45th position in The Sunday Times Tech Track 100 (a league table of 100 private technology companies with the fastest growing sales over the past three years) having achieved sales growth of 57% a year from £1.9m in 2007 to £7.3m in 2010. Node4, has also been recognised in the prestigious Deloitte Technology Fast 50 ranked number 1 in the Midlands and 22nd nationally with an additional recognition from Deloitte Technology 500 EMEA rankings as one of the fastest growing technology companies in the EMEA region. Deloitte rankings are based on percentage revenue growth over the last five years and Node4 came in at 138th place, having achieved compound annual revenue growth of 1,142.05% each year over this period.
Derby-based business case study bucking the economic trend
Managing Director, Andrew Gilbert, at 30 years heads up the organisation that has achieved a turnover of £11 million in the space of only six years and has an average employee age of 30.
Gilbert started Node4 in 2003 at the age of 23 and believes that data is one of the most valuable assets of a business and more are becoming reliant on technology – which has become a mission-critical aspect of day-to-day operations.
As a result Node4 is rapidly attracting a big reputation as a data centre provider in its own industry, gaining trust, confidence and recognition from a variety of heavy-weight blue chip, private and public sector companies and organisation.
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