British technology companies are more concerned with maintainingtheir sales rates, than the effects of the credit crunch, according to accountancypractice BDO Stoy Hayward.
A survey of 50 of the 100 fastest growing privately heldtechnology companies in the UK– as listed by the Sunday Times – found that just 16% of businesses owners feltthat the downturn would be the biggest commercial issue they faced in 2009.Over 40% said that keeping their sales growth going would be the biggest issuethey faced, while 26% said they were concerned with recruitment and staffretention.
“In the current climate many would be astounded that the financialcrisis wasn’t the number one issue facing technology chiefs,” said BDO StoyHayward technology head Julian Frost.
“However, given the ambitious and entrepreneurial nature ofthe individuals behind these businesses – many of whom haven’t worked through arecession before – it isn’t surprising that sales growth comes so high up theagenda, particular as on average these firms have grown at a rate of more than80% over the past year,” he added.
Frost also pointed to a much-remarked on upward trend intrade sales and IPOs, which 18% of techies said would be on their agenda thisyear, suggesting that the downturn would create opportunities for thoseinclined to be acquisitive this year.