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IT firms 'unshaken by credit crunch'

Published: Tuesday, 15 April 2008   Category: Science, IT and Engineering

IT businesses are confident about their future despite the looming presence of the credit crunch, which could be good news for graduates considering a career in the industry

A study by The Credit Show, the UK's largest exhibition and conference dedicated to professionals associated with the consumer and commercial credit arena, revealed that more than three quarters of IT companies felt confident about the future of their business.

Furthermore, it found that small and medium-sized enterprises (SMEs), including IT businesses, plan to expand sales in the UK by an average of 56 per cent over the next year.

The research was based on detailed online interviews with some 117 SMEs across various sectors.

Kamala Panday, publisher of Credit Today, organisers of The Credit Show, commented: "For some, the credit crunch is beginning to bite. However this survey shows that their hunt for growth has not been affected.

"Businesses are now playing a more strategic game, with over half admitting to chasing slower payers more vigorously."

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