Tech firms set fair to survive the credit crunch

The UK’s IT sector is forecast to survive the worst effects of the current economic turbulence, with the number of business failing remaining constant over the next year.

Business advisors BDO Stoy Hayward predict that 1,414 companies in the technology, media and telecoms sectors will close during 2008. In 2009 this figure will rise by less than one per cent to 1,428, and in 2010 the total will fall to 1,356.

BDO Stoy Hayward revealed the figures as it announced a two year deal with The Tech Track 100 the annual report into privately-owned technology companies, published by The Sunday Times and research firm Fast Track.

Source: Yahoo Technology News

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