I.T. sector is booming

The number of IT companies in the UK rose by 15,000 last year to 321,000 in 2014, as the boom in ‘app’ and ‘FinTech’ companies’ drives business creation. The contribution of the ‘app economy’ to the UK is estimated at £4bn and is expected to rise to £31 billion by 2025. The ‘app economy’ is centred around London’s ‘Silicon Roundabout’, who host many household names and influential start-ups, including King Digital, creators of Candy Crush, which recently announced quarterly revenues of $496 million.