It is the inexorable certainty of capitalism that companies of all sizes continuously create and destroy jobs. Private sector businesses like living organisms, feed off demand and are sensitive to economic headwinds. The economic turbulence caused by CV19 creates as many clichés as there are lost jobs; unemployment set to double by the end of the year. A myriad of rapid revenue responses and a start up mind set are espoused, as is agility and accountability. We now have a non traditional collaboration between partners up and down the supply chain.
With a net job reduction from existing businesses we must find a solution for job creation. Entrepreneurs are the life blood to this recovery and their thousands of start ups’ create the millions of jobs so desperately needed. For the young and the old. Such a new found fluid geographical work force accelerates the pace of job uptake. This enables and informs an economic levelling across our regions; particularly the North.
Despite CV19 the UK is the unicorn capital of Europe with UK technology investment soaring to over £10bn, more than Germany and France combined. 77 unicorns with 3 digital tech unicorns in Yorkshire alone. UK investment in early stage companies is currently £3.9bn. The phenomenal surge in Work Tech innovation is eye watering. This fascinating and important ecosystem is what is going to drive a key part of the economic recovery. As a call to action the public and the private sector need to come together to facilitate genuine UK job creation.
If ever there is a time to support tech start ups’, it is now!