SME Numbers Are Soaring
Small & Medium Enterprise (SME) numbers are climbing, and according to a new study by Hampshire Trust Bank, the total of SMEs in the UK has grown by 23 per cent from 2011 to 2016.
10th November 2017
The most growth was seen in the office administration and business support sectors, with a 76 per cent rise in the time period. Human health services and media publishing followed close behind with 50 per cent.
These positive figures suggest a more optimistic outlook for businesses of the UK. The study found that the transportation industry were the most confident for the future, while real estate employees saw economic uncertainty and regulation as real barriers to any future growth for their sector.
Mark Sismey-Durrant, Chief Executive Officer at Hampshire Trust Bank, insists a positive outlook will help SME business leaders achieve success, but also insists specialist bank such as HTB should support these “important” smaller businesses by funding any appeals for growth.
Nina Skero, Head of Macroeconomics at CEBR agreed that this optimism should be encouraged. Skera adds that a strong confidence among SMEs could be a sign that these businesses will continue supporting economic growth, despite the uncertain backdrop in other areas.
James Salmon of the Credit Protection Association said “SME’s are the life blood of the economy and any evidence that the are prospering has to be cheered”.
10th November 2017
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