The Digital Sector in Greater Manchester has emerged as one of the winners in the current economic downturn. According to results published today by Manchester Digital, the sector’s GDP is estimated to be worth between £120-£300m per annum to the region.
Manchester Digital, the independent trade association for the region’s digital sector in collaboration with The Manchester Digital Development Agency (MDDA), recently commissioned the first phase of a three-part survey into the digital sector within the Greater Manchester area as part of a longer-term project to comprehensively size and profile the region’s thriving digital industry.
The aim of the survey has been to gain a better understanding of the digital sector and its needs, in order that organisations like Manchester Digital and the MDDA can better inform, influence, advocate and promote the best interests of the region’s digital sector as well as influence the range and type of membership benefits and practical support they provide.
It is the first time that such a survey has been carried out by the Manchester Digital and the results provide an interesting and valuable insight into the expectations of those businesses operating in this growing sector.
Some 200 companies out of an estimated 1,200 Greater Manchester based digital businesses were invited to take part in the first phase of the survey. Their feedback provides a detailed picture of the digital sector across a range of operational and strategic topics including size, business profile and area of specialism, recruitment and training. Importantly the survey also provides an insight into the issues and concerns facing businesses operating in what is now the largest digital hub outside of London.
Whilst any immediate short-term concerns centre around reduced client budgets and client confidence as a direct result of the credit crunch, only a small number of digital businesses have experienced fallout from the problems being experienced in the property and financial sectors - the majority being shielded from its negative effects by a diverse client base made up of small business and SME’s from a broad range of industries.
As such, results suggest that confidence is high both in terms of anticipated growth within individual businesses as well as the target markets in which they operate, with 66% of those surveyed indicating they expected their company to expand over the next 12 months. The majority having seen an increase in business enquiries over recent months as clients increasingly turn to online and digital to achieve better returns from marketing spend.
Shaun Fensom, Chair of Manchester Digital commented:
“The digital sector has grown enormously over the last ten years and the progress made in the North West has been incredible. In particular the digital sector within Greater Manchester is being seen as an increasingly important area of business to the local economy as well a centre of excellence nationally.
Although a relatively young sector, with nearly half those companies surveyed only established within the last 5 years, 39% have an average turnover of between £100,000-500,000 per year, with 75% of those companies surveyed employing between 1-10 permanent members of staff plus a similar number of freelance staff. As such, Manchester Digital is dedicated to helping the region to be a great place to both be, and do digital business.”
More detailed results from the survey will be published on the Manchester Digital website which can be accessed www.manchesterdigital.com.
Phase 2 of the digital sector survey is due to take place later this year.
ENDS
Note to Editors:
- Manchester Digital is the independent trade association for the thriving digital sector in the North West of England.
- Its vision is sim
