Small businesses in the UK may be beginning to recover economic confidence, according to new research within the sector. Many are looking to increase revenue, salaries and even hire new staff – something that will sound very appealing to the government. While some are still struggling with late payment and cash flow problems, there are small businesses that have found a way out of economic gloom and are looking positively towards the rest of 2012.
61% of small businesses interviewed by the recruitment firm Adecco claimed that growing their business was their main focus for 2012. Just 7% had their gaze set on only consolidating their business in the next year.
40% of small business owners say they are confident that their company will grow in the next twelve months. They also intend to increase their staff. 23% think growth is unlikely, and 37% expect their business to remain a steady size. These figures are encouraging for business confidence, with many companies optimistic about their growth prospects in the next twelve months.
Many are looking to increase their staff numbers in customer service, sales and operations. Increasing staff numbers across these key areas will make UK SMEs important in boosting the country’s economy, and with the well documented high unemployment rates, this can only be a good thing.
There are many UK businesses who are looking to boost the salaries of their employees. 38% have already committed to salary rises in 2012, with a further 40% considering them.
These figures show a cautious sense of optimism amongst the small business sector. Controlling debts and costs might still be an important factor for many, but there are now many looking towards growth and expansion.
This positive feeling shows that 2012 is looking to be a year of recovery.