Small business confidence could benefit contractors
(2 minutes to read)
Contractors could very well benefit from increased optimism among the UK's small and medium sized businesses.
Latest findings from CBI's Quarterly SME trends survey revealed that of the 441 firms questioned, many reported that total new orders and new domestic orders edged up slightly in the three months to April, while export orders fell again.
However, optimism about demand for exports over the year ahead also rose for the second quarter, with SMEs expressing greater confidence than larger firms.
These recent findings could open up new job opportunities for contractors and permanent workers alike, as data revealed that 31% of small and medium-sized firms are employing more people compared to three months ago.
Rain Newton-Smith, CBI Director for Economics, commented, “Higher spending on training is often a sign that skills shortages are biting again. This further underlines the need for business and government to work together in the coming months and make sure we get the design of the apprenticeship levy right, so it can deliver the quality skills training that firms need.
“While the depreciation of the Pound since mid-2015 will be welcomed by exporters, the Government could and should do more to help by establishing an exports commission that can look at the challenges and opportunities for exporters more closely.”