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£1 million + turnover for 69% of STC membership

Author: Silverstone Technology Cluster
Published On: 22 August 2023

More than two thirds of the Silverstone Technology Cluster’s business members are enjoying an annual turnover of more than £1m according to latest statistics compiled by the organisation.

Some 69% reported a turnover of more than £1m, figures show, with 37% in total declaring between £1m and £10m. Some 7% confirmed turnovers of more than £100m.

Statistics also reveal how attractive joining the STC membership is to SMEs with 75% of members being of less than 100 employees.

“We have committed to using a really efficient new content management system (cms) which is giving us greater insight into who our members are and will enable us to respond even better to their needs,” commented STC CEO Pim van Baarsen.

“Whilst the data is exciting, it also shows once more just how diverse our membership is in terms of skills and sector types, particularly across technology.

“We thoroughly enjoy being the champion of UK tech SMEs who are able to deliver rapid solutions for UK industry at large and, through our networking opportunities, are being exposed perhaps more than ever to major organisations such as US DEVCOM and key players in the UK’s space sector.”

Below is a taster of the data to have been compiled to date by the STC about its membership which remains at a record high of 156.

Percentage of membership by annual turnover:

Over £100m                     7%

£50m-£100m                   2%

£20m-£50m                     5%

£10m-£20m                     8%

£1m-£10m                        37%

£500k-£1m                       9%

£100k-£500k                    17%

£50k-£100k                       7%

Below £50k                       7%

Leading specialisms of technology membership:

Engineering services                     24.5%

Manufacturing & Assembly         15.9%

CAD, Simulation & Modelling      10.6%

Other                                               10.6%

Software                                          9.3%

Electronics                                      6.6%

Systems Engineering                     5.3%

Automation, IIoT, I4.0                   4.0%

Additive Manufacturing               3.3%

Percentage of membership by number of employees:

201+                                  13%

101-200                             8%

51-100                               3%

21-50                                 17%

11-20                                 14%

6-10                                   10%

1-5                                     35%

Sectors most represented:

Automotive                      21.1%

Aerospace & Aviation     10.9%

Motorsport                      10.9%

Industrial                          5.9%

Defence & Security         4.9%

Energy & Cleantech        3.6%

Other                                 3.6%

Education & Training      2.6%

Medical & Healthcare    2.6%

By Carl McKellar

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