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Promising growth for SMEs

Apr 18 2011

Small businesses expect to grow by up to 13 per cent over the next year

UK small and medium sized enterprises (SMEs) have grown on average by six per cent in the last six months, finds research.

A survey of 1,000 SMEs by technology company HP shows that small businesses expect to grow by up to 13 per cent over the next year.

Faith in the economy is also strong, with 66 per cent of businesses optimistic about the year ahead.

Financial services is the sector that has grown the most (13 per cent), followed by manufacturing (10 per cent). Retail (4 per cent) and professional services (1 per cent) have seen the least growth.

However, John Walker, national chairman of the Federation of Small Businesses has doubts about the immediate future. He says, ‘While the overall picture suggests that businesses are bouncing back from a harsh winter, and that the economy should return to growth in the first quarter, questions still remain about the strength of recovery.’

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