Croydon named one of the UK’s top 10 tech destinations
Croydon ranks among the top spots in the country for tech businesses, according to research by UHY Hacker Young.
Research by UHY Hacker Young has placed Croydon in the top 7 destinations for tech companies in London, and in the top 10 in the UK. The Cronx was described as an “up-and-coming tech hub”, with 2,450 new tech start-ups in the past year.
The report highlighted that Croydon has been particularly popular with FinTechs and drew attention to Croydon’s excellent transport links to London, as well as its offer of “co-working and premium office space at an affordable price for aspiring millennials”.
With the challenges facing all companies as a result of the global pandemic, the research identified Croydon as a destination of choice for pragmatic businesses and start-ups. Martin Jones, partner at UHY Hacker Young, said “It is more than likely that coronavirus has caused a slowdown in the growth of start-ups. If tech companies do become more cost-conscious after the coronavirus lockdown ends, then we may see an increasing number choosing to base themselves in those areas such as Croydon that offer growing tech credentials but also lower rents to save costs following the pandemic.”
Croydon offers Grade A office space 15 minutes from Central London for a quarter of the cost of the City and the West End. Tech companies have the added offer of co-working spaces such as TMRW and incubator space at Sussex Innovation Croydon amongst other flexible workspace options including Nexus, Business XChange Hub, AMP House and Startup Croydon amongst others.
Croydon’s tech sector has grown by 41% in the past 5 years and employs over 8,000 people. Overall, the borough is home to over 14,000 businesses and is currently undergoing a £5.25 billion regeneration which includes delivery of an astonishing 46,000 new homes by 2039. Croydon smart city ambitions are also driving forward digital connectivity across the borough, as well as an IoT programme to bring greater innovation, efficiency and sustainability to residents and businesses.