Small businesses planning to recruit new staff, research shows

New research from Hitachi Capital has shown that there will be a jobs boost in the SME sector, with one in six small businesses set to recruit new staff by the end of April this year.

The company’s quarterly British Business Barometer, which surveyed SME decision-makers from 11 regions, found that 20 per cent of businesses that are less than five years old are planning to take on new staff by April.

Opportunities

London, the South East, the North West and Scotland were found to be the main drivers for boosting headcount, with around one in six small businesses from these regions planning to take on new staff over the next three months.

Financial services, IT and telecoms, manufacturing and medical were found to be the sectors with the biggest opportunities, with IT and telecoms leading the way for job opportunities at 27 per cent.

The research has been released ahead of the 2017 Spring Budget. The Federation of Small Businesses has called for Chancellor of the Exchequer Philip Hammond to help support long-term growth of businesses and boost jobs.

Support

Hitachi Capital Business Finance Managing Director, Gavin Wraith-Carter, commented: “The Spring Budget is an opportunity for the Chancellor to openly support the growth ambitions of SMEs and the positive contribution they make to the UK economy at large.”

He added that Hitachi Capital’s spring research suggests that many SMEs are adjusting quickly to Brexit, looking for new markets to expand into and fresh methods to help drive growth, and that many intend to increase headcount to support these plans.