In the US, this is up 14 per cent from four years ago when the annual survey began. SVB’s Startup Outlook study, conducted in the US and the UK, also reveals that software companies plan to do the most hiring, with 90 per cent planning to increase the size of their workforces this year.
The interactive report details the technology sectors and geographies in the US and the UK that are looking for employees with both STEM (science, technology, engineering, math) and general business skills. Job seekers will find locations with the greatest need and job types in particularly high demand. Eighty-two percent of startups in the US, and 77 per cent in the UK, said that they are looking for people with STEM skills.
“Tech companies are a bright spot in the economy worldwide, which is evident from the significant number of startups in the US and the UK that expect to grow and hire this year,”said Greg Becker, president and CEO of Silicon Valley Bank. “There is a lot of opportunity to put people to work at startups, which is particularly welcome news since jobs in general are recovering slowly. Investments in STEM education and policies that support tech businesses will help people take advantage of jobs, and benefit economic growth overall.”
Yet nine in 10 reported difficulty finding workers with the skills they need. In the US, startups in major technology hubs nationwide reported challenges finding workers with the skills they need and those numbers were highest in Texas, followed by Washington.
In the UK, 69 per cent of startups reported trouble finding qualified engineers.