What is the impact going to be on the coronavirus for the UK tech sector? Is it likely that the sector is going to shrink? Is innovation likely to be hindered? Or is it possible that it is going to thrive? The times at the moment are certainly not predictable and there have been a lot of questions raised that relate to the damage of the virus and the impact that it is going to have on the UK tech sector.
Is the Sector Going to Shrink?
Investors and entrepreneurs such as Tej Kohli have pumped millions into the industry, and this is one of the many reasons why the sector is not going to shrink. This time and the stress that businesses are under might actually help the tech sector. It may help it to lead the way in thinking and it might even lead to even more solutions in the future. At the end of the day, the Prime Minister has called upon everyone in the tech sector to try and fight the coronavirus. He has also pooled resources as well to try and make sure that businesses are supported as much as possible. Those who have 3D printing tech are providing medical components to try and make sure that there isn’t going to be a shortage, for example. In reality, the tech sector could grow as it continues to find ways to expand but right now, it’s safe to say that we live in an unprecedented situation.
Where is the UK Tech Sector Going to Be?
It looks like this is the beginning of a crisis that is going to be drawn out for quite some time. As a result, only time is going to tell how long it is going to take for things to go back to normal. A lot of this will come down to how long it takes the UK to control the spread of the virus and how much of the workforce is going to be out of action as well. A lot of people do agree that there might be some short-term disruption when it comes to UK growth and investment, but the other measures that are being put in place to try and make sure that businesses are being supported might actually curb this.
So many businesses are now working to try and make sure that they are giving their team the chance to work remotely and this is leading to the spread of even more technology. If this can carry on then this would mean that even more industries benefit, and when the coronavirus is under control, everything else would essentially fall back into place. The tech sector might have a lot to prove but if things carry on as they are then it may come out of the other side being more boosted than ever before and this would certainly be a benefit.