New data suggests that the UK’s small business owners are leading the country towards economic recovery.
Figures released recently by the recruitment firm Manpower show that it is the smaller enterprises, including those that need umbrella company contractors, that are creating new job opportunities and not their larger counterparts. Manpower’s latest Employment Outlook shows an increase of 8% in the hiring intentions of small firms over the next three months.
Mark Cahill, the managing director of Manpower UK, said that despite ongoing concerns about the UK economy, the outlook for employment is at its most positive for three years.
Candidates often assume that the bigger the firm the better when it comes to job vacancies, but these figures suggest that small really is beautiful. There is still huge unmet demand for candidates to fill skills shortage roles, such as IT specialists and engineers, he continued.
Another report, this time from ECI Partners, claims that small business owners are confident about the future prospects for their company and anticipate growing in the next year.
74% of respondents to the Growth Survey expect their headcount to rise in the next 12 months and 50% said that growth will exceed 5%. In a further sign of optimism, 60% expect to see a double digit rise in turnover.
Business and enterprise minister, Mark Prisk, commented on the report saying it was good news that so many small enterprises expect to recruit and see their profits increasing. The government is committed to helping private sector businesses create jobs, and to support them we’re reducing taxation on business, tackling onerous bureaucracy and backing start-ups, he added.
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