Prime Minister David Cameron plans to make a new global hub for technology after he announced the creation of a new East London Tech City. The idea, presumably, is for it to rival Silicon Valley; only without the catchy moniker.

The idea certainly makes sense as growing high tech firms are a key component in a successful economy. As statistics show…

Take a look at internet companies for example; the web-based economy is currently worth £100bn a year and accounts for 250,000 UK jobs. By 2015 the internet economy is expected to account for 10% of the UK’s GDP.

The new ‘Tech City’ will attract some of the biggest global companies with Google, Intel, Vodafone and Facebook all set to make it their home. Having these corporate behemoths based in the capital will surely create a huge number of jobs and further endorse the UK’s reputation as a world leader in e-commerce.

The benefits of having such big name companies in the capital must surely trickle down to the nation’s freelancers and contractors in the IT industry.

Crunch online accounting is based in the lovely seaside city of Brighton which is itself a thriving hub for small start-ups and web-based enterprises.

Read more about this story at Freelance Advisor.