Telecoms Business Set to Grow in 2015

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The UK telecoms industry is set to grow for at least two years, according to results from a recent survey by Barclays Bank.

Their Fast Growth Technology Survey measured the ‘growth expectations’ that UK technology business leaders are building into their forward planning.

Owners and CEOs of UK technology firms were surveyed, with the results showing that much of the industry is feeling confident about growth prospects of their UK telecoms businesses in 2015.

Growth is expected at 11% a year – four times faster than the UK’s GDP growth forecast of 2.6%!

That is only the average expectation.  17% of those surveyed predicted growth between 10-20% in 2015, whilst 10% are expecting growth of more than 20%.

It’s to get even better in 2016 with firms expecting a 13% growth on average.

Barclays’ Technology, Media and Telecoms team puts the uplift down to the “optimism and drive of the UK telecoms sector.”

Credit also goes to the UK’s supposed global advantages: business culture, light-touch regulation, supportive Government policies and access to finance.

Those polled put it down to emphasis on marketing and advertising, as well as strong leadership as to why they are predicting growth for the two years ahead.

If these predictions come true, it is good news for the likes of Paul Maxfield, Group Managing Director of Network Telecoms; a leading provider of telecommunication services in the United Kingdom.