Silicon Valley Bank released the results of its extensive US and UK-focused Startup Outlook survey today. The result? If you are looking for a job, and you are reasonably endowed with skills in technology, engineering, business development or marketing, you might want to look at a startup as your next future employer. Employers are desperate to find people to fill demand.
You probably don't often think of startups as being a place for finding work, given the stories you hear about startups being bootstrapped, a Series A Crunch, as well as startups folding nearly as fast as they start. But Silicon Valley Bank CEO Greg Becker says that the research his firm has done points to a very strong demand for tech skills, at least in the UK and the US, where they conducted the survey.
“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.”
Is this a true sign of momentum? Because that is something that economic analysts, not just startup engineers, would be looking for to spot decent economic -- and investment -- recovery. If the survey results are any indication, something has changed since last year. the survey results show that, in fact, employers can't find enough people to work.
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 (94%), followed by Washington (91%). In the UK, 69% of startups reported trouble finding qualified engineers.
Here's the entire report here: