Brighton and Hove has seen slower growth in productivity over the last year than the rest of the UK, despite its position as a leading business hub for technology companies, according to research by Brighton based UHY Hacker Young.
UHY Hacker Young says that Brighton had an annual growth rate of 3% in Gross Value Added (GVA – a measure or productivity), rising to £24,130 in the last year from £23,460 the previous year, slightly underperforming the UK average increase of 3.4% over the same period, rising to £24,960 from £24,130. GVA is a measure of an area’s contribution to the UK economy based on the value of the goods and services it produces per head of population.
Traditionally renowned for its popularity as a tourist destination, Brighton is quickly evolving into a vibrant tech hub, seeing a significant regeneration over the last ten years. Brighton is now home to over a thousand digital, creative, and technology companies alone.
UHY Hacker Young adds that significant investment in infrastructure means Brighton offers quick links to Gatwick Airport and London, attracting both domestic and international investment.
Brighton’s proximity to London has attracted multiple tech companies to the area, some of which include: B
- Brandwatch, a social media monitoring and analytics platform that allows companies to monitor their social media footprint around the world
- Ribot, a design studio responsible for apps from Channel 4, Tesco and Virgin Atlantic’s inflight entertainment system
- Madgex, a software developer and design consultancy that builds job boards for media clients including The Times and The Guardian
- Crunch, software provider which simplifies the accounting process for SMEs
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