Small Business Technology News

Small Biz Tech Sector Plans To Hire In 2011

Written by Jenna Weiner
Published: 4/22/2011

A survey finds that 83 percent of tech-based startups plan to increase hiring this year.

Small business technology news has had an overall positive tone in 2011, as digital marketing continues to grow in popularity and cloud computing is expected to grow to a $241 billion industry by 2020, according to research from Forrester.

Small Biz Tech Sector

Now, Silicon Valley Bank is reporting in its Startup Outlook 2011 that of the 375 U.S-based, private, venture capital-backed software, hardware, life science and cleantech companies it surveyed, 83 percent are planning to hire, compared to 73 percent last year.

"This new data, however, clearly shows that technology companies … are still experiencing improved business conditions and are creating U.S. jobs," said Greg Becker, CEO of SVB Financial Group and Silicon Valley Bank, in a statement.

"There is no question that the innovation sector is making a tangible impact on the U.S. economy and our ability to compete globally," Becker added.

However, that doesn't mean that this sector is not facing challenges. Respondents identified access to equity capital as well as uncertainty over new regulations and healthcare reform as their biggest headaches. 

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