The government may be keen to help big businesses get back on their feet but the economy recovers from the bottom up and all eyes should be on what small and medium sized business think of the economic climate and the year ahead.
Recent surveys by Research Now looking at small and medium sized businesses are encouraging: 55% say they have already recovered or that they expect to recover within 6 months. This number rises to 62% for those businesses of between 20-99 employees.
Important though is how businesses spend their money and this will impact on the rest of the economy, these small businesses employ much of the country’s workforce but may struggle to take on more people due to the costs involved and the need to spend spare money on marketing to ensure that demand improves. This may lead some businesses to be stuck with the choices of either being able to find more work but not be able to fulfill it or taking on staff and not having enough work for them.