SMES bullish for year ahead

Six out of ten businesses believe small and medium sized enterprises (SMEs) will be the drivers of economic recovery in the UK in the next year.


Six out of ten businesses believe small and medium sized enterprises (SMEs) will be the drivers of economic recovery in the UK in the next year.

Six out of ten businesses believe small and medium sized enterprises (SMEs) will be the drivers of economic recovery in the UK in the next year.
 
Two-thirds of owner-managers are optimistic about their prospects for the remainder of 2011, according to research from networking company Cisco among 500 companies.

Small businesses have been quick to recognise that when it comes to recovery, their size does matter. Owners and directors of SMEs say that flexibility (56 per cent), agility (54 per cent) and better customer service (49 per cent) make them better able to prosper during a downturn than their larger counterparts.
 
Investment plans are ambitious, with 73 per cent intending to recruit more staff in 2011 and 74 per cent looking to invest more in training and development.
 
David Critchley, Cisco UKI director of Small and Medium Enterprises says, ‘True grit is all about toughness and tenacity, and the UK’s small businesses have this in bulk. That almost half of SMEs increased their revenues in 2010, amidst talk of nothing but austerity is testament to their role as the engine room of the economy.’
 

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