“KPMG's recent Tech Monitor revealed that while tech start up activity is at all time high, it remains highly concentrated in London. It is critical that we do more to encourage tech hubs in other key cities and this investment is an important step towards this.
“Encouragingly, our research also shows that UK tech start-ups have a high two year survival rate of 82%, much higher than the UK average of 76%, so this should be money well spent by the Chancellor.”
Zoe Sheppard, KPMG Corporate Communications
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.