SMEs Expect Growth through Recruitment

According to a new HSBC survey, more than half of UK small and medium-sized enterprises (SMEs) will hire new employees in the next year. The report, which saw HSBC team up with Ipsos MORI, surveyed more than 1,000 SMEs and found that those in the sector are extremely optimistic about their future growth. 60% of those surveyed expect to see their turnover significantly increase in the next 12 months, with 20% expecting their business to grow by 6%. The sectors that expect to see the most growth are manufacturing, 63% of which expect turnover growth, closely followed by the consumer and retail sector. For this growth to be achieved, and for SMEs to keep up with their increased activity, 54% expect to recruit in the next year. Furthermore, not only do they expect to recruit, but they expect to recruit full-time skilled and permanent employees with 54% favouring permanent over contract employees. These results are extremely encouraging for the recruitment sector. However, once again the need for skilled workers is highlighted, a concern than is being raised time and time again. Ian Stuart, HSBC UK Head of Commercial Banking, said: “This survey shows that small and medium-sized businesses across Britain are not only positive about growth, they want to hire full-time staff to help them grow. Hiring and training skilled staff takes investment – which is why HSBC has committed £8 billion to lend to SMEs this year and why we are running more than 300 ‘Strategies for Growth’ workshops to help businesses realise their ambitions.”

View the full report here.