Victorian ICT Industry 2016 Factsheet

Some interesting facts from the Victorian ICT Industry 2016 Fact sheet:

• Ninety-five percent of all employing Victorian ICT companies have fewer than 20 employees, and these companies employ 45 percent of the total ICT industry workforce.
• Around half of all employees in the Victorian ICT industry are employed by companies providing software and sytems services
• The Victorian ICT industry generates annual revenue of around $34.8 billion, respresenting annnualised growth of approximately 3.7 per cent from the first Victorian ICT industry survey in October 2006.
• Sixty-six percent of ICT companies were profitable in 2015, up on 61 per cent the previous year.
• Victorian ICT companies spent around 14 per cent of gross revenues on R&D.
• ICT companies report a range of factors as barriers to company growth, the major one being the cost of doing business which was identified by 68 per cent of respondents as a barrier.
• More information also available at www.data.vic.gov.au