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SMEs bullish about growth

May 14 2010

Despite expectations of a rocky recovery, the majority of SMEs say they will expand their businesses this year.

Some 66 per cent of owner-managers plan to grow their companies, with 32 per cent intending to hire new staff, according to a poll from networking site Shell LiveWIRE.

Gregor Mackintosh, founder of rapeseed oil company Mackintosh of Glendaveny, says: ‘I have three part-time employees and now I would like to take on extra help, as we are rapidly growing.’

James Smith, chairman of Shell UK, says the results are good news for the economy: ‘This confirms the contribution that small businesses can make to the economy. Two-thirds of jobs are in small businesses and they have a huge role to play in getting the economy going again.’  

Of the 700 entrepreneurs surveyed, 28 per cent of business owners say the recession has inspired them to refocus their business, while 25 per cent believe it has challenged them to identify new areas of growth.

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