Nearly 80,000 jobs will be created in the UK over the next four years as thousands of start-up technology companies are set up, according to Microsoft.

The computer giant has estimated that the IT market will drive the creation of nearly 2,5000 small businesses by 2013.

"I am enthusiastic about the possibilities for the future, for business at large and for information technology as a propellant of that," said Microsoft chief executive Steve Ballmer at the annual Confederation of British Industry lecture.