The digital age is here. Just about every new business has some advanced tech aspect to it. Whether you’re setting up and eCommerce store or an online casino, tech is the place to be. And according to the Digital Economy Council, Cardiff is one of the fastest growing tech hubs in Europe. It has made its way to the top 10 ranking number 9 which is incredibly impressive. How has it managed this level of success and growth in the tech field and what does this mean for the future? Can you then use this information to build your business? We discuss more in this article.
An Impressive Quality of Life
If you’re interested in starting a tech-based business, you’re in luck. What makes Cardiff such an attractive prospect for those in the tech field is that there is an incredible quality of life that is afforded to people that live there. There is a reasonable cost of living which means that when tech workers attain a reasonable salary, they can actually enjoy it rather than it all being allocated to cost of living outgoings. It’s believed that it’s an ideal place to start up a new business and see new ventures all the time.
There is the Right Talent
Due to this quality of life, Cardiff is a very appealing option to quality staff. As Wales has become such a hot place to work within the tech sector, it also means that it is attracting top talent that you may not find elsewhere. You will find that there are lots of developers relocating there and setting up a home with the quality of life as an incentive. As well as this, because there are so many opportunities within this space, people are choosing this as a career early on or else upskilling to take advantage of this. This will only compound the level of growth within the tech field. Employees can come as soon as they need to, hold their stuff in a Safestore in Cardiff, and move into one of the highly sought after homes in the city, helping the Welsh economy as you go.
High Levels of Investment are Being Secured
The Development Bank of Wales is working with global businesses from the start-up stage all the way through to the exit phase where they can offer equity investment of typically between £500,000 and £2 million with the maximum being £5 million. It is attracting the attention of these businesses that are in the position to invest. This means that the tech businesses with that backing are growing faster than before. It shows long-term commitment from the Development Bank of Wales to keep things going on that upward trend. You can take advantage of some of these grants and investments as you develop your business.
All Kinds of Businesses Have Hubs there
There is a requirement for tech talent in most business sectors which means there aren’t any limitations in this field. Whether it’s a growing digital agency that needs a larger team, an e-commerce business, or an online gambling brand that needs games or websites developed to a high standard – there is a huge amount of diversity within that space. Online gambling has seen a huge growth in the UK, and with many of these businesses operating under both the UK and Curacao gaming license, there is so much space for more tech talent.
If you are in the tech field and considering your opportunities, or if you are a business in need of tech talent, Wales is definitely the place to go. With remote and hybrid working now the norm, the world is literally your oyster and there are no geographical boundaries.