StartUps Trying to Hire

Posted on 30th April 2013

According to an interactive report from the Startup Outlook Report, sponsored by Silicon Valley Bank, tech start-ups are growing fast, with almost 90 per cent of them saying that they want to hire staff this year, but are finding it difficult to find employees with the right skills.

The survey found that 77 per cent of such firms in the UK are currently looking for employees with science, technology, maths and engineering skills but 69 per cent cannot find people with those attributes.

Silicon Valley Bank conducted its first survey in the UK in December last year. For the purposes of this study, startups are primarily defined as companies in the innovation sector with less than £25 million in annual revenue and fewer than 100 employees. Just over 40 per cent of the startups that are hiring in both the US and the UK had fewer than 10 employees at the time of the survey.

Greg Becker, the president and CEO of Silicon Valley Bank, is quoted in the press release talking about the impact of technology startups to the business world.

He said that tech companies are a bright spot in the economy worldwide, which is evident from the significant number of startups in the U.S. and the U.K. that expect to grow and hire this year.

He added that there is a lot of opportunity to put people to work at startups, which is particularly welcome news since jobs in general are recovering slowly.

Meanwhile, the Chancellor George Osborne last week announced a programme to develop 50 fast-growing tech startups through mentorship tailored information and investment advice.

The Future Fifty scheme will aim to make it as easy as possible for firms to list on the UK stock market and help to reduce the expense of investing in smaller, fast-growing companies.

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