British SMEs growth poised to reach five-year high, report suggests

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The UK’s SMEs are likely to reach the highest growth levels in five years, the Federation of Small Businesses’ (FSB) latest Small Business Index has been able to reveal.

The survey discovered a considerable increase in positivity and confidence among small business owners and supports recent data published by the Enterprise Research Centre which suggested SMEs are growing at the fastest rate since 2008.

Almost two-thirds (65 per cent) of small firms participating in the poll said they plan to grow moderately or rapidly during the next quarter; while a further 32 per cent anticipate investing more heavily in capital during the next year.

Furthermore, the number of SMEs taking on new staff has also increased in the last 12 months from two per cent to 8.9 per cent, with almost a quarter (24 per cent) of SMEs experiencing increased revenues and 17 per cent reporting improved profits.

John Allan, national chairman, FSB, added that the results of the latest Small Business Index “show the major role that small businesses play in the growth of the UK’s economy”.

“It is critical the new government continues to develop the right environment to support businesses planning to grow, invest and take on new staff in the next 12 months,” added Allan.

Tensor has the perfect workforce monitoring and time and attendance systems for UK SMEs

Every firm planning to expand their workforce due to newly found business opportunities should try their best to ensure that the basis they’re building on is solid enough, and this is precisely where Tensor could help, given our extensive experience in the field of workforce management.

The WinTA.NET is the flagship product of our proven range of Windows™ based time and attendance products, offering complete and comprehensive control over the creation of working rules, Access Control, Job Costing and System Security. It has specifically been designed to meet the specific requirements of a wide range of firms, including SMEs.

A complete smart card time and attendance system including European Working Time Regulations checking and reporting, ensuring that your company remains compliant with both regional and national legislation.

The Enterprise edition software has a familiar Windows™ interface, providing quick and easy access to information.

If you’d like to find out additional information regarding the WinTA.NET range of products, just get in touch with our dedicated product team, they’ll be more than happy to answer any questions and queries you might have.

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