Cambridge firms anticipate bumper year

IT firms located in the town say this year will be better than last, as long as they can find the right staff

Cambridge technology companies are anticipating a good year -- if they can find the right people to employ.

Almost two-thirds of IT companies located in the English city are more confident about business than they were last year, according to new research from Rainier PR.

Eighty-one per cent expect sales growth over the next year, yet almost that many also view sales as their major challenge.

Staffing is a key concern for growth. Just over half of the 160 companies interviewed expect to hire over the next year, although roughly the same amount say finding qualified staff is a challenge, particularly in sales and business development.

Location could also factor into firms' livelihood, as 78 per cent called the business community in Cambridge 'insular' and 73 per cent said they won't rule out leaving the city in order to grow.

Cambridge currently is home to big names such as ARM Holdings, Autonomy and Cambridge Silicon Radio, as well as a number of start-ups.