Employment is expected to grow over the next 12 months, with SMEs playing an integral part in hiring new staff and generating more profit, according to a survey conducted by HSBC.
The banking giants teamed up with research firm Ipsos MORI and surveyed more than 1,000 SMEs in the UK market, finding broad optimism about growth and a desire to recruit skilled, permanent staff to support increased activity.
The survey revealed that 54 per cent of SME owners will employ more staff within the next 12 months.
Sceptics may be thinking that many of these jobs will be zero-hour contract based, but HSBC claim that over half of all SMEs involved in the survey expect to add a full-time member of staff to their team this year.
‘‘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,’’ said Ian Stuart, HSBC UK Head of Commercial Banking.
HSBC recently launched its most ambitious lending package yet for small business owners, making £8bn available to SMEs throughout the United Kingdom.
Small business owners believe that their turnover will increase significantly between 2015 and 2016, with around 20 per cent of the survey expecting their business to grow by 6 per cent.
‘‘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,’’ continued Stuart.