British small and medium businesses plan workforce expansion

Britain’s SMEs (smalls and medium businesses) plan to hire more employees over the coming three months, a very recent Vistage Medium-Sized Business Confidence Index was able to reveal.

The survey polled 431 CEOs, MDs and owners of medium and larger small businesses and found that up to 60% of respondents expect the economic conditions in the UK to improve over the next 12 months.

Furthermore, statistical data suggests that 67% of MDs and owners aim to expand their workforce in the next 12 months, a 3% increase on the result of the previous quarter. Their confidence comes particularly from strong sales forecasts, with 80% expecting that their sales revenues to increase over the next 12 months. Moreover, 62% believe that their profitability will also grow.

Steve Gilroy, CEO of Vistage, said: “Our research shows that Britain’s mittelstand business owners are a driving force of Britain’s sustained recovery and this confidence is translated into their intentions to expand their workforce in autumn 2014.“

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