UK’s SMEs record highest level of income in 7 years

Small businesses in the UK have recorded at the end of 2013 their highest level of income since the start of the economic crisis, recent research carried out by Barclays plc’s Business Banking unit has revealed.

UK’s SMEs record highest level of income in 7 years image 1

As a news report on this topic informs us, Barclay’s research also revealed that growth in Q4 2013 was the strongest since before the turn of the century, up 17 per cent from Q1 2000.

The in-depth analysis of all SMEs working with the banking group also suggests that the top three performing small business industry sectors during the recession and subsequent recovery were the education sector (41 per cent increase in income levels), followed by health (28% boost) and professional services (23% increase).

Sue Hayes, Managing Director for Barclays Business Banking commented:

“UK SMEs are slowly but surely stepping out of the post-recession struggle and as our findings show, there is light at the end of the tunnel for these businesses that are so essential to our economic prospects. “

SME’s who are considering investing some of their new found profits into further long-term, solid and reliable development should also consider the implementation of extensive workforce management solutions, and this is specifically where Tensor plc can put its extensive experience to very good use.

We supply a full range of solutions designed specifically to streamline workforce and skill management within companies of any sizes. Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.

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