Small businesses confident about growth.
Small and medium sized businesses are forecasting growth this year, research by Sage UK reveals.
The survey of 1,500 businesses discovered that 40% of the UK’s smaller firms are predicting business growth in the next six months and 30% of them are expecting to employ new staff.
The research also found however that only 5% of new employees will be graduates, indicating that growth among the UK’s small business sector, often seen as the driving force of the economic recovery, accounting for 60% of the UK workforce, would fail to benefit those entering into the job market.
Sage’s small business division managing director, Brendan Flattery, commented: “Increasing a firm in size can be a delicate challenge for any company and it appears that small and medium sized enterprises are prioritising recruiting people who have gained real work experience.
He added: “With the Department for Business, Innovation and Skills suggesting that small and medium sized enterprises make up 99.9% of the UK’s 4.8 million businesses and account for nearly two thirds of the UK’s workforce, the research also highlights the very real challenge facing graduates looking for employment straight out of university.
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