Record high economy could benefit UK contractors
Contractors will be pleased to hear that the UK economy is at an all time high, meaning that small businesses will be more likely to take on extra staff.
Lloyds latest Bank Business Confidence Barometer has revealed that business confidence in the economy has risen to its highest level since the Barometer first started in 2001.
This is great news for contractors looking for more job opportunities, with 43% of businesses planning to increase staff levels in the coming year.
According to the figures, the net balance of businesses that are optimistic about economic prospects increased by 3 points to 57% in September.
With regards to the number of businesses that are more optimistic about the economy than they were three months ago, the findings revealed that this has increased by five percentage points, to 68%.
Only 11% of businesses said they were less hopeful about the economy, which is just a slight rise from August when 9% of businesses were uncertain about the economy as a whole.
Trevor Williams, Chief Economist, Lloyds Bank Commercial Banking, said, “Businesses are more positive about the economy than at any time since the end of the recession. This is likely to translate into robust growth in the second half of the year.”
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