UK Contractors: Majority of smaller sized UK businesses look to invest over next three months
Many UK small and medium-sized businesses, such as Limited company contractors, are expecting to invest in their company over the next three months.
Research carried in June by independent funder Bibby Financial Services (BFS), surveyed 1,000 businesses with turnover of up to £25 million, as part of its SME Tracker.
Of those surveyed, 59% said that they expect to invest in the three months up to October; 27% plan to invest in technology and equipment, 20% will look to recruit new staff, and 23% plan to invest in employee training.
Figures also show that one in ten of the UK’s smaller sized businesses are looking to invest in new premises, which is up from eight per cent in Q2.
Businesses certainly seem to have a positive attitude with regards to future prospects, with 57% saying they expect to achieve sales growth in the next few months.
David Postings, Bibby Financial Services UK CEO, said, “Across the SME population in the UK this equates to 2.9 million businesses investing over the months leading up to October, which is obviously very positive for the economy.”
He added, “These results are positive as they show owners and management teams investing in the long-term future of their businesses. The increase in those investing in new premises is a clear indication of these plans and it’s likely that the effects will be felt later in the year, which could spell more positive news in terms of GDP as we lead-up to 2015.”
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