Positivity among small businesses is growing, according to AXA Business Insurance’s annual Optimism Index, and many firms are starting to see a light at the end of the tunnel.
The insurance company’s survey shows that 37 per cent of small and medium-sized enterprises (SMEs) in the UK have higher hopes for growth than they did a year ago and 63 per cent expect good things for the next six months.
Because of this increased optimism, SMEs are beginning to be less cautious over spending and are even investing in staff and other resources to help them grow further.
Some 38 per cent of businesses will take on more employees this year – a 300 per cent rise on last year’s nine per cent.
Darrell Sansom, managing director at AXA, said. “We know that many small businesses have really struggled in the recent economic downturn so it is extremely encouraging to see that the level of optimism among SMEs is rising.”
Indeed it is and long may it continue.
Posted by the Secret Businessman